Robbins Arroyo LLP: Omnicell, Inc. (OMCL) Misled Shareholders According to a Recently Filed Class Action
Robbins Arroyo LLP announces that an investor of Omnicell, Inc. (NASDAQGS: OMCL) has filed a federal securities fraud class action complaint in the U.S. District Court for the Northern District of California. The complaint alleges that the company and certain of its officers and directors violated the Securities Exchange Act of 1934 between May 2, 2014 and March 2, 2015. Omnicell provides automation solutions for medication and supply chain management in healthcare worldwide.
Omnicell Misrepresents Its Business Practices
According to the complaint, shares of Omnicell fell over 6%, or $2.14, to close at $33.08 per share on March 3, 2015, after the company announced in a regulatory filing that it would be unable to file its annual report in a timely manner. According to Omnicell, the company requires additional time to investigate a notice received on February 27, 2015, from an employee alleging the existence of a “side letter” arrangement with a company customer for discounts and free products not reflected in the final invoices paid by the customer.
Omnicell Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.