On or around 12/05/2019 (Notice of voluntarily dismissal)
Filing Date: July 18, 2019
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.
This case was voluntarily dismissed on December 5, 2019.
Company & Securities Information
Defendant: Omnicell, Inc.
Industry: Communications Services
Headquarters: United States
Ticker Symbol: OMCL
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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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.
First Identified Complaint
Frank Bursick, et al. v. Omnicell, Inc., et al.
COURT: N.D. California
DOCKET #: 19-CV-04150
JUDGE: Hon. William Alsup
DATE FILED: 07/18/2019
CLASS PERIOD START: 10/25/2018
CLASS PERIOD END: 07/11/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
Lead Plaintiff Frank Bursick's Notice of Voluntary Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available