Tuesday , 12 December 2017

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Omnicom subsidiaries receive subpoenas from the Department of Justice

Omnicom Group Inc. said Friday two of its subsidiaries received subpoenas from the Department of Justice concerning an investigation into video production and post-production production practices in the advertising industry. The marketing company said its outside legal counsel has contacted the DoJ’s antitrust division, and was fully cooperating with the investigation. The stock, which was still inactive in premarket trade, has rallied 16% year to date, while the S&P 500 has gained 11%.

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