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Stock Market & Financial Investment News

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February 19, 2014
10:31 EDTOCROmnicare discloses complaint asserting False Claims Act violations
Omnicare disclosed in a regulatory filing that on December 4, 2013, a complaint was served on Omnicare. The initial complaint, filed under seal on January 19, 2010 in the U.S. District Court for the Northern District of Illinois, was brought by Raymond Dolan as a private party qui tam relator on behalf of the federal government and the States of Illinois and North Carolina. The relator filed a First Amended Complaint on February 11, 2014. The relator asserts violations of the federal False Claims Act and analogous state laws based upon allegations that the company entered into contracts with certain customer facilities in Illinois that included pricing for pharmaceuticals below Average Wholesale Price as well as other discounted pricing in return for referrals of business, allegedly in violation of the Stark Law, Medicare regulations, and the Anti-Kickback Statute. The U.S. Department of Justice notified the court on September 13, 2013 that it declined to intervene, Omnicare said. "The company believes that the allegations are without merit and intends to vigorously defend itself in this action," Omnicare added.
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July 23, 2014
10:04 EDTOCROmnicare discloses whistleblower suit in which DOJ declined to intervene
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07:40 EDTOCROmnicare backs FY14 adjusted EPS view of $3.64-$3.72, consensus $3.69
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07:39 EDTOCROmnicare reports Q2 adjusted EPS 91c, consensus 90c
Reports Q2 revenue $1.61B, consensus $1.59B.

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