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NEW YORK, July 23, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Realogy Holdings Corp., Reckitt Benckiser Group plc, Omnicell, Inc., and Ideanomics, Inc. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Realogy Holdings Corp. (NYSE: RLGY)
Lead Plaintiff Deadline: September 9, 2019
Class Period: February 24, 2019 to May 22, 2019
The complaint, filed on July 11, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Realogy was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) Realogy’s anticompetitive actions would prompt the U.S. Department of Justice to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) as a result, defendants’ statements about the Realogy’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Realogy class action go to: https://bespc.com/rlgy
Reckitt Benckiser Group Plc (Other OTC: RBGLY)
Lead Plaintiff Deadline: September 13, 2019
Class Period: July 28, 2014 to April 9, 2019
The complaint charges Reckitt and certain of its current and former officers and directors with violations of the Securities Exchange Act of 1934. As a result of defendants' false and misleading statements and/or omissions regarding the scheme to inflate sales of Suboxone Film during the Class Period, Reckitt ADSs traded at artificially inflated prices. The truth began to emerge on July 24, 2017, when the Company announced, in connection with its second quarter 2017 financial results, that it had recorded a 318 million charge related to ongoing U.S. Department of Justice and U.S. Federal Trade Commission investigations into its former Reckitt Pharma operations. On this news, the price of Reckitt ADSs dropped 5%.
Then, on February 19, 2018, Reckitt announced, in connection with its full year 2017 financial results, that it had recorded an exceptional charge of 296 million due to the investigations, and that the investigations now also involved the California Department of Insurance. On this news, the price of Reckitt ADSs declined more than 10%.
Finally, on April 9, 2019, the DOJ filed a criminal indictment against Reckitt Pharma (now known as Indivior), which detailed a multi-billion-dollar scheme to defraud the public and the Company's investors through the marketing and sale of Suboxone Film. On this news, the price of Reckitt ADSs again declined over 6%. Ultimately, Reckitt agreed to settle the federal investigations into its marketing and sale of Suboxone Film for $1.4 billion. At the time, the settlement was called the "largest opioid settlement in US history."
For more information on the Reckitt Benckiser class action go to: https://bespc.com/rbgly
Omnicell, Inc. (NASDAQ: OMCL)
Lead Plaintiff Deadline: September 16, 2019
Class Period: October 25, 2018 to July 11, 2019
The complaint, filed on July 18, 2019, 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) Omnicell 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, Omnicell 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.
For more information on the Omnicell class action go to: https://bespc.com/omcl
Ideanomics, Inc. (NASDAQ: IDEX)
Lead plaintiff Deadline: September 17, 2019
Class Period: May 15, 2017 to November 13, 2018
The complaint, filed on July 19, 2019, 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, defendants failed to disclose to investors that: (i) costs associated with building out Ideanomics’ U.S. infrastructure and hiring its new executive team were negatively impacting the Company’s bottom line performance; (ii) as a result, Ideanomics was highly unlikely to meet its 2018 EBITDA guidance; (iii) Ideanomics’ margins in its oil trading and consumer electronics businesses were too low for those businesses to remain viable; and (iv) as a result, Ideanomics’ public statements were materially false and misleading at all relevant times.
For more information on the Ideanomics class action go to: https://bespc.com/idex
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.