SAN DIEGO & HUNT VALLEY, Md.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Omega Healthcare Investors, Inc. (NYSE: OHI). The complaint is brought on behalf of all purchasers of Omega securities between February 8, 2017 and October 31, 2017, for alleged violations of the Securities Exchange Act of 1934 by Omega's officers and directors. Omega Healthcare Investors, Inc. is a real estate investment trust that invests in income producing healthcare facilities in the U.S. and U.K.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/omega-healthcare-investors-inc/
Omega Accused of Concealing Weakening Financial and Operating Results
According to the complaint, the financial and operating results of certain of Omega's investments were deteriorating such that they were unable to pay their rents. Nevertheless, on May 3, 2017, Omega affirmed its 2017 annual Adjusted FFO (funds from operations) available to common stockholders to be between $3.40 and $3.44 per diluted share, which it revised on July 26, 2017, to be between $3.42 and $3.44 per diluted share. On October 30, 2017, after the market closed, Omega issued a press release announcing its third quarter 2017 financial results and lowering its 2017 guidance, noting the liquidity concern that many of the company's top operators were facing was severely impacting their ability to pay rent in a timely manner. On this news, Omega's stock fell $2.11 per share, or 6.8%, to close at $28.86 per share on October 31, 2017, and the stock continues to decline.
Omega Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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