NEW YORK, April 1 /PRNewswire-FirstCall/ -- The U.S. District Court for the Southern District of New York entered an order dismissing, in part, a purported securities class action complaint filed against Omnicom Group Inc. ("Omnicom") and various officers of the company.
The Court dismissed, without prejudice, those portions of the complaint that alleged securities fraud arising from Omnicom's organic-growth calculations and earn-out and put-option liabilities.
The Court's decision denying Omnicom's motion to dismiss the remainder of the complaint did not in any way address the merits of the case, but only technical pleading issues. Omnicom believes that the substantive allegations of the complaint are baseless, and intends to defend vigorously against the suit.
Omnicom Group Inc. (NYSE: OMC) (http://www.omnicomgroup.com) 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, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
Omnicom Group Inc. 04/01/2005
Omnicom Group Inc.,
Katie Beaule [email protected]