NEW YORK, July 25, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Omnicell, Inc. (NASDAQ: OMCL) from October 25, 2018 through April 9, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Omnicell investors under the federal securities laws.
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=omnicell-inc&id=1945 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.
If you wish to serve as lead plaintiff, you must move the Court no later than September 16, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Omnicell recognized revenue for certain transactions before fulfilling its performance obligations; (2) the Company engaged in improper accounting practices to meet revenue targets; (3) the Company engaged in improper accounting practices to meet revenue targets; (4) as a result, the Company would be required to write-off certain inventory; (5) the Company misclassified certain expenses as capitalized expenditures; and (6) as a result, defendants’ statements about Omnicell’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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info@zhanginvestorlaw.com
tel: (800) 991-3756