• by Steve McClellan  @mp_mcclellan, August 1, 2013

At least one law firm is testing the waters for a possible shareholder suit against Omnicom in connection with the Big MOE (Merger of Equals).

The Maryland-based securities litigation firm of Brower Piven said it has launched an investigation into “possible breaches of fiduciary duty to current shareholders of Omnicom Group,” as well as into other unspecified violations of state law by the company’s board of directors in connection with the merger.

The firm said it will explore whether shareholder value is maximized under the terms of the agreement. In a press release the company encouraged shareholders to give them a call (no obligation or purchase required!)

Omnicom declined to comment on the law firm’s investigation.

And the firm didn’t return a query seeking more specifics about the investigation.  Like do they really have anything at this point or whether it’s more of a fishing expedition designed to gauge how many Omnicom shareholders, if any, feel they’re getting a raw deal.

Earlier this week the firm filed a class action suit challenging the HanesBrands acquisition of Maidenform Inc., alleging that the price is too low and that the Maidenform board didn’t maximize value for shareholders as required.