LOS ANGELES–(BUSINESS WIRE)–$OMCL #Fraud—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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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.
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