INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Omnicell, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Omnicell, Inc. (“Omnicell” or “the Company”) (NASDAQ: OMCL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. GlassHouse Research LLC published a report about Omnicell on July 11, 2019, accusing the Company of using “accounting gimmicks” to prematurely recognize more than $38 million in sales. The GlassHouse report also alleged that Omnicell pushed new products onto its customers, but these customers were not willing to carry more inventory due to implementation problems with the Company’s products. The company was forced to write off $23 million in obsolete inventory. Based on this report, shares of Omnicell dropped significantly over the next several trading sessions.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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