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Indiana Laborers v. Omnicare, Inc.
USDC ED Kentucky
Disclosure; Post-Tellabs
Background
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 Company
background
Litigation
background
- USDC ED Kentucky (Covington) 2:06-cv-00026-WOB
- Indiana State District Council of Laborers and Hod
Carriers Pension and Welfare Fund v. Omnicare, Inc.
Lead
plaintiffs
- Indiana State District Council of Laborers and Hod
Carriers Pension and Welfare
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Claims
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Complaint
Summary
- Company was artificially inflating its earnings
by engaging in improper generic drug substitution
- Company was not in compliance with Medicare laws
- Implementation of the Medicare Part D Plan had
dramatically increased the Companys costs and increased the number of rejected
Medicare claims to nearly 40%
- Company was not well-positioned to add value
under the new Medicare Part D Plan, but rather, the Company lacked adequate
staff and internal compliance controls to ensure the Company could benefit from
the new plan and instead, the Part D Plan wreaked havoc on the Companys
business model, sending costs, rejection rates and receivables far higher than
shareholders were led to believe
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Motion to
Dismiss Granted
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Motion
to dismiss
Opinion
- Opinion 10.12.07
2007 WL 3003284 Fed. Sec. L. Rep. 94,455
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Sixth Circuit Appeal
SEC_CODE_REF_0090001192884
- Docket No: 07-6379
- 3.17.08 APPELLANT PROOF BRIEF filed by Ms.
Jennifer L. Gmitro, Ms. Shirley H. Huang, Mr. Eric A. Isaacson, Mr. Kevin L.
Murphy and Mr. Henry Rosen for Alaska Electrical Pension Fund, Cement Mason
Local 526 Combined Funds and Laborers District Council Construction Industry
Pension Fund. Certificate of Service: 3.13.08.
- 3.27.08 Corrected appellants' proof brief
brief filed by Ms. Jennifer L. Gmitro, Ms. Shirley H. Huang, Mr. Eric A.
Isaacson, Mr. Kevin L. Murphy and Mr. Henry Rosen for Indiana State District
Counsel of Laborers and Hod Carriers Pension and Welfare Fund and Alaska
Electrical Pension Fund, Cement Mason Local 526 Combined Funds and Laborers
District Council Construction Industry Pension Fund. Certificate of
Service: 3.26.08.
- 4.21.08 APPELLEE PROOF BRIEF filed by Mr.
William T. Conway, III , Mr. Douglas R. Dennis, Mr. Stephen M. Gracey, Mr.
Harvey Kurzweil, Mr. Richard W. Reinthaler, Mr. William T. Robinson, III, Mr.
John E. Schreiber and Mr. James P. Smith, III for Omnicare, Inc., Joel F.
Gemunder and David W. Froesel, Jr.. Certificate of Service: 4.15.08.
- 5.05.08 PROOF REPLY BRIEF filed by Ms.
Jennifer L. Gmitro, Ms. Shirley H. Huang, Mr. Eric A. Isaacson, Mr. Kevin L.
Murphy and Mr. Henry Rosen for Appellants Alaska Electrical Pension Fund, Cement
Mason Local 526 Combined Funds and Laborers District Council Construction
Industry Pension Fund. Certificate of Service: 5.02.08. Final Reply Brief due
5.30.08
- 5.29.08 APPELLEE FINAL BRIEF filed by Mr.
William T. Conway, III, Mr. Douglas R. Dennis, Mr. Stephen M. Gracey, Mr. Harvey
Kurzweil, Mr. Richard W. Reinthaler, Mr. William T. Robinson, III, Mr. John E.
Schreiber and Mr. James P. Smith, III for Omnicare, Inc., Joel F. Gemunder and
David W. Froesel, Jr.. Copies: 7. Certificate of Service: 5.28.08. Argument
Request: requested.
- 6.02.08 APPELLANT FINAL BRIEF filed by Ms.
Jennifer L. Gmitro, Ms. Shirley H. Huang, Mr. Eric A. Isaacson, Mr. Kevin L.
Murphy and Mr. Henry Rosen for Alaska Electrical Pension Fund, Cement Mason
Local 526 Combined Funds and Laborers District Council Construction Industry
Pension Fund. Copies:7. Certificate of Service: 5.29.08. Argument Request:
requested.
- 6.02.08 FINAL REPLY BRIEF filed by Ms.
Jennifer L. Gmitro, Ms. Shirley H. Huang, Mr. Eric A. Isaacson, Mr. Kevin L.
Murphy and Mr. Henry Rosen for Appellants Alaska Electrical Pension Fund, Cement
Mason Local 526 Combined Funds and Laborers District Council Construction
Industry Pension Fund. Certificate of Service: 5.29.08
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Counsel
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Lead
plaintiff
Company
defense
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Related Topics
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