The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Omnicell, Inc. (NASDAQGS: OMCL) who purchased shares between October 25, 2018 and July 11, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Omnicell lawsuit alleges that (1) the Company 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 experienced weaker demand for new product lines than it had previously projected; (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 of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until September 16, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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