NEW YORK, Sept. 13, 2019 /PRNewswire/ — Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all investors that purchased Omnicell, Inc. (NASDAQ: OMCL) securities between October 25, 2018 and July 11,2019 (the “Class Period”). Investors have until September 16, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint filed on July 18, 2019 alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Omnicell recognized revenue for certain transactions before fulfilling its performance obligations; (2) Omnicell 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) consequently, Omnicell would be required to write-off certain inventory; (5) Omnicell 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 were materially misleading and/or lacked a reasonable basis.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Omnicell class action please go to https://bespc.com/omcl. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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