NEW ORLEANS, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 16, 2019 to file lead plaintiff applications in a securities class action lawsuit against Omnicell, Inc. (NasdaqGS: OMCL), if they purchased the Company’s securities between October 25, 2018 and July 11, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Omnicell and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-omcl/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 16, 2019.
About the Lawsuit
Omnicell and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 11, 2019, a report published by GlassHouse Research revealed that the Company had prematurely recognized over $38M in sales, had pushed new product lines onto customers hesitant to purchase more inventory due to implementation issues, and that it would need to write off $23M in obsolete inventory.
On this news, the Company’s stock price fell $11.41/share, or nearly 14%, to close at $75.11/share on July 11, 2019, on unusually heavy trading volume.
The case is Bursick v. Omnicell, Inc. et al., 3:19-cv-04150.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
