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IN RE OMNICOM GROUP, INC. SECURITIES LITIGATION

Docket No. 08-0612-cv.

597 F.3d 501 (2010)

In re OMNICOM GROUP, INC. SECURITIES LITIGATION. New Orleans Employees' Retirement System, Plaintiff-Appellant, Philip Szanto, Dr. Joseph S. Fisher, M.D. Profit Sharing Plan, on behalf of itself and all others similarly situated, Dianee Glynn, on behalf of herself and all others similarly situated, Richard Lehan, Peter "Peter Kim", Edward Kaiminski, Susan Black, Matt Brody, Amy Hoffman, Robert E. Garren, and Alan Mirken, Consolidated-Plaintiffs, v. Omnicom Group, Inc., John Wren and Randall J. Weisenburger, Bruce Crawford and Philip J. Angelastro, Consolidated-Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided: March 9, 2010.

Attorney(s) appearing for the Case

John P. Coffey, Bernstein Litowitz Berger & Grossmann LLP, New York, NY, for Plaintiff-Appellant and the Certified Class.

Peter A. Wald (Jeff G. Hammel, Latham & Watkins LLP, New York, NY; Janey Mallow Link, Latham & Watkins LLP, Chicago, IL, of counsel; Abid R. Qureshi, Latham & Watkins LLP, Washington, DC, of counsel, on the brief) Latham & Watkins LLP, New York, NY, for Defendants-Appellees.

Before: FEINBERG, WINTER, and CABRANES, Circuit Judges.

WINTER, Circuit Judge:

The New Orleans Employees' Retirement System, the lead plaintiff in this class action, appeals from Judge Pauley's grant of summary judgment dismissing its complaint alleging securities fraud in violation of Section 10(b), 15 U.S.C. § 78j(b), against Omnicom Group, Inc. and its managers. The district court held that appellant proffered no evidence sufficient to support a finding of loss causation...

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