RBGLY, OMCL & IDEX Class Action Reminder - Bronstein, Gewirtz & Grossman, LLC

NEW YORK, NY / ACCESSWIRE / September 3, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Ideanomics Inc. (NASDAQ:IDEX)

Class Period: May 15, 2017 - November 13, 2018

Deadline: September 17, 2019
For more info: www.bgandg.com/idex

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) costs associated with building out Ideanomics’ U.S. infrastructure and hiring its new executive team were negatively impacting the Company’s bottom line performance; (2) as a result, Ideanomics was highly unlikely to meet its 2018 EBITDA guidance; (3) Ideanomics’ margins in its oil trading and consumer electronics businesses were too low for those businesses to remain viable; and (4) as a result, Ideanomics’ public statements were materially false and misleading at all relevant times.

Reckitt Benckiser Group plc (OTCMKT:RBGLY)

Class Period: July 28, 2014 - April 9, 2019

Deadline: September 16, 2019
For more info: www.bgandg.com/rbgly

The complaint alleges that before and throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material adverse information. The complaint alleges that Reckitt was involved in a schemethat generated over $3 billion in proceeds enabling opiate abuse among U.S. consumers and mislead investors and the public concerning the health and safety risks of Suboxone Film, its new key opiate product. Specifically, the complaint alleges that Reckitt senior executives planned to switch prescribers from Suboxone Tablets to its Suboxone Film, which had similar active ingredients to Suboxone Tablets, but is dispensed by a thin film placed under the tongue and stored in single-use foil wrappings. In order to prevent generic competition, the company created a marketing campaign to hype the purported safety benefits of Suboxone Film over Suboxone Tablets. The complaint continues to allege that the campaign was fabricating safety concerns of existing treatments, hoping to delay the entry and approval of generics for Suboxone Tablets. As a result, the sales of Suboxone Film grew. From 2010 and 2014, Reckitt revenues from sales of the drug rose to over $840 million annually. As a result of defendants’ false and misleading statements and/or omissions regarding the alleged scheme, Reckitt ADSs traded at artificially inflated prices.

Omnicell, Inc. (NASDAQ:OMCL)

Class Period: October 25, 2018 - July 11, 2019

Deadline: September 16, 2019
For more info: www.bgandg.com/omcl

The lawsuit 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) the Company 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, the Company 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.

CONTACT:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC