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Case Status:    DISMISSED    
On or around 05/21/2015 (Notice of voluntarily dismissal)

Filing Date: March 19, 2015

According to the law firm press release, Omnicell, Inc. provides automation solutions for medication and supply management. The company operates in two segments, Acute Care and Non-Acute Care.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts pertaining to arrangements with certain customers. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (1) the existence of a "side letter" arrangement with a Company customer for certain discounts and Company products that were to be provided at no cost, but which were not reflected in the final invoices paid by the customer; (2) that the Company lacked adequate internal controls over financial reporting; and (3) that as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

On March 2, 2015, after the market closed, the Company disclosed in a regulatory filing that it would be unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2014. According to the Company, "additional time is required by the Company to investigate a notice received on February 27, 2015 from a Company employee alleging, among other matters, the existence of a 'side letter' arrangement with a Company customer for certain discounts and Company products that were to be provided at no cost, but which were not reflected in the final invoices paid by the customer."

As a result of this news, shares of Omnicell fell $2.14, or over 6%, on extremely heavy volume, to close at $33.08 on March 3, 2015.

This case was voluntarily dismissed on May 20, 2015.

COMPANY INFORMATION:

Sector: Technology
Industry: Scientific & Technical Instr.
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OMCL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 15-CV-01280
JUDGE: Hon. Haywood S Gilliam, Jr
DATE FILED: 03/19/2015
CLASS PERIOD START: 05/02/2014
CLASS PERIOD END: 03/02/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date