Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Omnicell, Inc.
Oklahoma City, OK (March 20, 2015) – On March 18, 2015, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Omnicell, Inc. (NASDAQ: OMCL). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 2, 2014 through March 2, 2015. More specifically, this litigation was filed because on March 2, 2015, the Company disclosed that it would be unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2014, but would file the Form 10-K within 15 days. The “additional time is required by 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, the Company’s shares fell $2.14 to close, on extremely heavy volume, at $33.08 on March 3, 2015.
Plaintiff seeks to recover damages on behalf of all Omnicell, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, May 18, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click hereto obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Fri, March 20, 2015
by Robin Hester filed under