Omnicom Is In The Clear

A New York federal judge has dismissed a lawsuit against Omnicom. The company was accused of improper accounting for acquisitions during the last Web boom. The six-year-old shareholder filed suit revolved around Omnicom’s share of Agency.com and Organic.

The judge ruled that “there is simply no way for a juror to determine whether the alleged fraud caused any portion of the Plaintiff’s loss.”

Omnicom Senior Vice President and General Counsel Michael J. O’Brien said, “We have always believed strongly that plaintiffs’ allegations were baseless.”