NEW YORK, March 20, 2015 /PRNewswire/ -- Bernstein Liebhard
LLP today announced that a class action has been commenced in the
United States District Court for the Northern District of
California on behalf of purchasers
(the "Class") of common stock of Omnicell, Inc. ("Omnicell" or the
"Company") (NASDAQ: OMCL) during the period of May 2, 2014 and March 2,
2015 (the "Class Period") alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the "Complaint").
The Complaint alleges that Omnicell made false and/or misleading
statements, as well as failed to disclose material adverse facts
pertaining to arrangements with certain customers. Specifically,
defendants made false and/or misleading statements and/or failed to
disclose: (1) the existence of a "side letter" arrangement with a
Company customer for certain discounts and Company products that
were provided at no cost, but which were not reflected in the final
invoices paid by the customer; (2) that the Company lacked adequate
internal controls over financial reporting; and (3) that as a
result of the foregoing, the Company's financial statements were
materially false and misleading at all relevant times.
On March 2, 2015, the Company
disclosed that the filing of its Form 10-K with the Securities and
Exchange Commission would be delayed. According to the
Company, "additional time is required by the Company to investigate
a notice received on February 27,
2015 from a Company employee alleging, among other matters,
the existence of a 'side letter' arrangement with a Company
customer for certain discounts and Company products that were to be
provided at no cost, but which were not reflected in the final
invoices paid by the customer."
On this news, Omnicell's stock price fell $2.14, or over 6%, on extremely heavy volume, to
close at $33.08 on March 3, 2015.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Omnicell common stock during the Class
Period. If you invested in Omnicell common stock as described
above, and either lost money on the transaction or still hold the
security, you may wish to join in this action to serve as lead
plaintiff. In order to do so, you must meet certain
requirements set forth in the applicable law and file appropriate
papers no later than May 18,
2015.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as an Omnicell
shareholder and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3 billion for its clients. The
National Law Journal has recognized Bernstein Liebhard for
twelve consecutive years as one of the top plaintiffs' firms in the
country.
You can obtain a copy of the complaint from the clerk of the
court for the United States District Court for the Northern
District of California.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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SOURCE Bernstein Liebhard LLP