Applying Omnicare, Panel Affirms Dismissal Of Investor’s Section 14(a) Claim

Mealey's (April 22, 2021, 2:04 PM EDT) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on April 20 affirmed a federal district court’s dismissal of a shareholder class action against parties in a merger deal between a traffic visibility solutions provider and a venture capitalist, ruling that, under the U.S. Supreme Court’s ruling in Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund, the lead plaintiff in the action failed to sufficiently plead the falsity of certain opinion statements in pleading its federal securities law claims....