INVESTOR ALERT: Class Action Lawsuit Against Omnicell, Inc. Announced by Glancy Binkow & Goldberg LLP
March 23 2015 - 12:32PM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class action
lawsuit has been filed in the United States District Court for the
Northern District of California on behalf of a class (the “Class”)
comprising purchasers of the securities of Omnicell, Inc.
(“Omnicell” or the “Company”) (NASDAQ:OMCL) between May 2, 2014 and
March 2, 2015, inclusive (the “Class Period”).
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email please include your mailing address, telephone
number and number of shares purchased.
Omnicell provides automation and business information solutions
designed to enable hospitals and long-term healthcare facilities to
acquire, manage, dispense and administer medications and
medical-surgical supplies. The Complaint alleges that defendants
made false and/or misleading statements or failed to disclose
material adverse facts, including: (1) 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; (2)
that the Company lacked adequate internal controls over financial
reporting; and (3), as a result of the foregoing, that the
Company’s financial statements were materially false and misleading
at all relevant times.
On March 2, 2015, the Company disclosed in a regulatory filing
that Omnicell is unable to timely file its Annual Report on Form
10-K for the year ended December 31, 2014, and intends to file the
Form 10-K within fifteen calendar days of the original due date.
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.” Following this news, Omnicell shares fell $2.14 per
share, or more than 6%, on March 3, 2015.
If you are a member of the Class described above, you may move
the Court no later May 18, 2015, to serve as lead plaintiff, if you
meet certain legal requirements. To be a member of the Class you
need not take any action at this time; you may retain counsel of
your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if you have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, at
310-201-9150, by e-mail to shareholders@glancylaw.com, or visit our
website at http://www.glancylaw.com. If you inquire by email,
please include your mailing address, telephone number and number of
shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los AngelesLesley Portnoy,
310-201-9150888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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