Omnicell, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:Omnicell, Inc.
Date Filed:July 18th, 2019
Sector:Technology
Industry:Computer Manufacturing

According to the Complaint, Omnicell provides automation and business analytics software solutions for patient-centric medication and supply management to customers in the healthcare industry.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company recognized revenue for certain transactions before fulfilling its performance obligations; (2) that the Company engaged in improper accounting practices to meet revenue targets; (3) that the Company experienced weaker demand for new product lines than it had previously projected; (4) that, as a result, the Company would be required to write-off certain inventory; (5) that the Company misclassified certain expenses as capitalized expenditures; and (6) that, 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.

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First Identified Complaint

Frank Bursick, et al. v. Omnicell, Inc., et al.

Date Filed:July 18th, 2019
Class Period Start:October 25th, 2018
Class Period End:July 11th, 2019
First Identified Complaint Filings
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