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As we have previously discussed, there has been a growing trend of corporations' adopting various types of bylaws to define the bounds of shareholder litigation.

During oral arguments in Omnicare v. Laborers District Council last week, the Supreme Court appeared to signal a rejection of the Sixth Circuit Court of Appeals’ position that a sincerely held statement of opinion or belief may be actionable under the Securities Act of 1933 simply because it was incorrect.