WAYNE, Pa., April 21, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of Omnicell, Inc. ("Omnicell" or the "Company") (NASDAQ: OMCL) between May 2, 2014 and March 2, 2015, inclusive (the "Class Period").
Omnicell shareholders may, no later than May 18, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Omnicell and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/omcl.
Omnicell provides automation solutions for medication and supply management. The company operates in two segments, Acute Care and Non-Acute Care.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts pertaining to arrangements with certain customers. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (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) that as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
On March 2, 2015, after the market closed, the Company disclosed in a regulatory filing that it would be unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2014. 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."
As a result of this news, shares of Omnicell fell $2.14, or over 6%, on extremely heavy volume, to close at $33.08 on March 3, 2015.
If you are a member of the class, you may, no later than May 18, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at [email protected] or visit: www.rmclasslaw.com/cases/omcl. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
SOURCE Ryan & Maniskas, LLP