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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Reckitt Benckiser, Omnicell, Ideanomics, and Eagle Bancorp and Encourages Investors to Contact the Firm

NEW YORK, Aug. 26, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Reckitt Benckiser Group Plc (Other OTC: RBGLY), Omnicell, Inc. (OMCL), Ideanomics, Inc. (IDEX), and Eagle Bancorp,  Inc. (EGBN). 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.

Reckitt Benckiser Group Plc (Other OTC: RBGLY)

Lead Plaintiff Deadline: September 13, 2019

Class Period: July 28, 2014 to April 9, 2019

The complaint, filed on July 15, 2019, 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. (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. (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

Eagle Bancorp, Inc. (EGBN)

Lead Plaintiff Deadline: September 23, 2019

Class Period: March 2, 2015 to July 19, 2019

The complaint, filed on July 24, 2019, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate; (ii) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company to undertake its own internal investigations; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 17, 2019, Eagle Bancorp disclosed rising legal costs stemming from ongoing internal and government investigations of “the Company’s identification, classification and disclosure of related party transactions; the retirement of certain former officers and directors; and the relationship of the Company and certain of its former officers and directors with a local public official.”

On this news, Eagle Bancorp’s stock price fell $14.30 per share, or 26.75%, to close at $39.15 per share on July 18, 2019.

For more information on the Eagle Bancorp class action go to: https://bespc.com/EGBN

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. 

Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com