We are investigating Omnicell, Inc. (OMCL) (“Omnicell” or the “Company”) for potential violations of the federal securities laws.
On July 11, 2019, GlassHouse Research LLC published a report alleging that Omnicell prematurely recognized over $38 million in sales. The report also alleged that new product lines had been pushed onto customers, who were hesitant to purchase more inventory because of implementation issues, and that the Company would need to write off $23 million in obsolete inventory. On this news, Omnicell’s stock price fell $11.41 per share, or nearly 14%, to close at $75.11 per share on July 11, 2019.