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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 16, 2019 to file lead plaintiff applications in a securities class action lawsuit against Omnicell, Inc. (NasdaqGS: OMCL).
Omnicell and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 11, 2019, a report published by GlassHouse Research revealed that the Company had prematurely recognized over $38M in sales, had pushed new product lines onto customers hesitant to purchase more inventory due to implementation issues, and that it would need to write off $23M in obsolete inventory.
On this news, the Company’s stock price fell $11.41/share, or nearly 14%, to close at $75.11/share on July 11, 2019, on unusually heavy trading volume.
If you purchased securities of Omnicell and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Bursick v. Omnicell, Inc. et al., 3:19-cv-04150. Click here to read the case complaint.