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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.
News For OCR From The Last 14 Days
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February 26, 2015
08:32 EDTOCROmnicare price target raised to $84 from $76 at Cowen
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February 25, 2015
08:32 EDTOCROmnicare reports Q4 adjusted EPS 96c, consensus 95c
Reports Q4 revenue $1.63B, consensus $1.61B.
07:49 EDTOCROmnicare sees FY15 adjusted EPS $4.08-$4.16, consensus $4.15
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February 23, 2015
07:46 EDTOCRJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 23 at 8:20 am; not all company presentations may be webcasted. Webcast Link

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