Omega Healthcare Investors Inc. shareholders can try again to hold the company liable for allegedly misleading them about a loan to a tenant, after the Second Circuit revived the suit Monday.
The healthcare facilities-focused real estate investment trust’s investors accused it of hiding a $15 million loan to tenant Orianna Health Systems. The complaint “adequately alleges that Omega acted with scienter in failing to disclose the loan,” the U.S. Court of Appeals for the Second Circuit said, reversing the lower court and remanding the case.
Omitting information about the working capital loan allegedly kept investors from getting an “accurate ...
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