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NEW ORLEANS, Aug. 07, 2019 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilSeptember 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.
Omnicell investors should visit us at https://www.claimsfiler.com/cases/view-omnicell-inc-securities-litigation-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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