LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 in Omega
Healthcare Investors, Inc. to Contact the Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Omega Healthcare Investors, Inc. (“Omega”
or the “Company”) (NYSE:OHI) of the January 16, 2018 deadline to seek the role of lead plaintiff in a federal securities class
action that has been filed against the Company.
If you invested in Omega stock or options between February 8, 2017, and October 31, 2017 and would like to discuss your
legal rights, click here : www.faruqilaw.com/OHI. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased
Omega securities between February 8, 2017, and October 31, 2017 (the “Class Period”). The case, Gronich v. Omega Healthcare
Investors, Inc. et al, No. 1:17-cv-08983 was filed on November 16, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1)
financial and operating results of certain of the Company’s operators were deteriorating; (2) certain of the Company’s operators
were experiencing worsening liquidity issues that were significantly impacting the operators’ ability to make timely rent payments;
and (3) as a result, certain of the Company’s direct financing leases were impaired and certain receivables were uncollectible.
Specifically, on July 26, 2017, the Company reported its second quarter 2017 financial results. During a conference call held
the next day by the Company, Chief Operating Officer Daniel Booth, stated that the Company continued “to see certain regional
operators struggle with various operational pressures” and that two of the Company’s top ten private operators had seen margins and
coverages decline, which created liquidity concerns.
On this news, the Company’s share price declined from $33.45 on July 26, 2017, to $32.10 on July 27, 2017 – a $1.35 or a 4.04%
drop.
Then, on October 30, 2017, Omega announced its third quarter 2017 financial results. The next day, the Company held a conference
call to discuss its results, wherein Daniel Booth disclosed that the Company “[continued] to experience specific operator
performance issues” in addition to issues with Signature Healthcare, due to “liquidity issues [that] are impacting the ability of
these operators to pay rent on a timely basis.” During the same call, Robert Stephenson, the Company’s Chief Financial Officer,
stated that the Company’s decrease in operating revenue “was primarily a result of placing Orianna on a cash basis.”
Following the announcement, Omega’s share price fell from $30.97 per share on October 30, 2017 to a closing price of $28.86 on
October 31, 2017 - a $2.11 or a 6.81% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Omega’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120006195/en/