BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith 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 investors who purchased or otherwise acquired Omnicell, Inc. (“Omnicell” or the “Company”) (Nasdaq: OMCL) shares between May 2, 2014 and March 2, 2015, inclusive (the “Class Period”). Investors who acquired Omnicell shares during the Class Period are encouraged to contact the Law Offices of Howard G. Smith prior to the May 18, 2015 lead plaintiff deadline to discuss their rights.
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 misleading statements or failed to disclose material adverse facts, including 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; and, that the Company lacked adequate internal controls over financial reporting. On March 2, 2015, the Company announced the need to delay the filing of its annual report, because of the alleged “side letter” arrangement described above. Following disclosure of the above 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 than May 18, 2015, to serve as lead plaintiff. 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, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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