The Shareholders Foundation announces that an investor in shares of Omnicell, Inc. (NASDAQ:OMCL) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Omnicell, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Omnicell, Inc. (NASDAQ:OMCL) have certain options and for certain investors are short and strict deadlines running. Deadline: May 18, 2015. NASDAQ:OMCL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Omnicell, Inc. (NASDAQ:OMCL) common shares between May 2, 2014 and March 2, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 2, 2014 and March 2, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose 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, that Omnicell, Inc. lacked adequate internal controls over financial reporting, and that as a result of the foregoing, Omnicell’s financial statements were materially false and misleading at all relevant times.
Omnicell, Inc. reported that its annual Total Revenue rose from $245.53 million in 2011 to $440.90 million in 2014 and that its respective Net income increased from $10.39 million to $30.52 million. Shares of Omnicell, Inc. (NASDAQ:OMCL) grew from $12.88 per share in October 2012 to as high as $35.75 per share in late February 2015.
Then on March 2, 2015, Omnicell, Inc. disclosed that it is unable to file its Annual Report for the year ended December 31, 2014 within the prescribed time period without unreasonable effort or expense because 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.
Shares of Omnicell, Inc. (NASDAQ:OMCL) declined to as low as $30.74 per share on March 17, 2015.
On March 30, 2015
Those who purchased shares of Omnicell, Inc. (NASDAQ:OMCL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com