Law360, New York ( March 25, 2015, 2:34 PM EDT) -- The Omnicare case before the U.S. Supreme Court involved a registration statement issued by Omnicare in connection with its December 2005 public offering of common stock. The registration statement contained statements expressing Omnicare's belief that its contractual arrangements complied with "applicable state and federal laws" and were "legally and economically valid arrangements." Pension funds that purchased Omnicare stock in the public offering subsequently brought suit against the company for violations of Section 11 of the Securities Act of 1933, alleging that the "legal compliance" statements in Omnicare's registration statement were materially false and/or misleading because the company was allegedly engaged in various illegal activities.   ...