NY Appellate Court Dismisses Omnicom Derivative Lawsuit

NEW YORK, Feb 05, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Omnicom Group Inc. (OMC) today announced that on January 31, 2008, the Appellate Division of the New York State Supreme Court, First Judicial Department, issued a decision in In re Omnicom Group Inc. Shareholder Derivative Litigation denying plaintiffs' motion to reargue or appeal the Court's decision of September 25, 2007, which granted Omnicom's motion to dismiss a derivative lawsuit brought in June 2002 against current and former members of Omnicom's board of directors. In its September 2007 opinion, the Court concluded that plaintiffs failed to show that the Seneca transaction, which was the subject of the lawsuit, was not the product of "sound business judgment."

Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com). Omnicom is a leading global advertising, marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.

SOURCE Omnicom Group Inc.

http://www.omnicomgroup.com 

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