A lawsuit was filed on behalf of investors in Omnicell, Inc. (NASDAQ: OMCL) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/30/2019 -- An investor, who purchased shares of Omnicell, Inc. (NASDAQ: OMCL), filed a lawsuit 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: September 16, 2019. NASDAQ: OMCL investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Mountain View, CA based Omnicell, Inc. provides medication and supply dispensing automation, central pharmacy automation, analytics software, and medication adherence solutions for the healthcare industry worldwide.
On July 10, 2019, a report was published alleging Omnicell, Inc obfuscated its financials over the past two years "by using a variety of accounting gimmicks." After analyzing Omnicell's accounts receivable (AR), inventory, and capitalized expense diagnostics, the report concluded that Omnicell, Inc has prematurely recognized over $38 million in sales revenue, failed to write-off over $23 million in obsolete inventory, and has misclassified and accelerated the capitalization of over $38 million in expenses.
The plaintiff claims that between October 25, 2018 and July 11, 2019, the Defendants failed to disclose to investors that the Company recognized revenue for certain transactions before fulfilling its performance obligations, that the Company engaged in improper accounting practices to meet revenue targets, that the Company experienced weaker demand for new product lines than it had previously projected, that, as a result, the Company would be required to write-off certain inventory, that the Company misclassified certain expenses as capitalized expenditures, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations
Those who purchased shares of Omnicell, Inc. (NASDAQ: OMCL) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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