Judge Throws Out Omnicom Internet Fraud Case

A New York federal judge has dismissed a six-year-old shareholder lawsuit against Omnicom which accused the advertisers of improperly accounting for acquisitions during the last Web boom.

MediaPost has a summary of the complicated case here; the jist is that the complaint revolved around Omnicom's stakes in Agency.com and Organic, now two of the company's most valuable assets. 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."