Does the First Amendment Include the Right to Lie?

According to an anti-abortion group, the Susan B. Anthony List, the First Amendment protects everyone's constitutional right to be a lying sack of shit. 

The State of Ohio has a False Statement law which prohibits political candidates and organizations from making false statements in a campaign ad.  And now two groups — the Susan B. Anthony List and the Coalition Opposed to Additional Spending and Taxes — are suing for the right to lie like a cheap rug.  A federal court and an appeals court have both thrown out this frivolous lawsuit.  But the Supreme Court has agreed to hear their case.

Uh oh...

The whole thing started during the 2010 election when Democratic Rep. Steven Driehaus was being targeted by gangs of fetus-worshipers.  They put up billboards saying “Shame on Steve Driehaus! Driehaus voted FOR taxpayer-funded abortion.”

The billboards were referring to Driehaus' vote in favor of Obamacare.  Trouble is, the Affordable Care Act (Obamacare) does NOT provide any federal tax funding for abortion.  The fetus-humpers were lying.  Case closed.

Under Ohio's False Statement Law, the billboards had to come down.

I can't believe the Supreme Court has actually agreed to hear this case.  Hopefully they won't overturn the two lower court rulings.