Faruqi and Faruqui, LLP Logo
Share this page

Omega Healthcare Investors, Inc. (OHI)

NYSE:OHI

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Omega Healthcare Investors, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Omega Healthcare Investors, Inc. (“Omega” or the “Company”) (NYSE:OHI) of the January 16, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Omega stock or options between February 8, 2017, and October 31, 2017 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Omega securities between February 8, 2017, and October 31, 2017 (the “Class Period”).  The case, Gronich v. Omega Healthcare Investors, Inc. et al, No. 1:17-cv-08983 was filed on November 16, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) financial and operating results of certain of the Company’s operators were deteriorating; (2) certain of the Company’s operators were experiencing worsening liquidity issues that were significantly impacting the operators’ ability to make timely rent payments; and (3) as a result, certain of the Company’s direct financing leases were impaired and certain receivables were uncollectible.

Specifically, on July 26, 2017, the Company reported its second quarter 2017 financial results. During a conference call held the next day by the Company, Chief Operating Officer Daniel Booth stated that the Company continued “to see certain regional operators struggle with various operational pressures” and that two of the Company’s top ten private operators had seen margins and coverages decline, which created liquidity concerns.

On this news, the Company’s share price declined from $33.45 on July 26, 2017, to $32.10 on July 27, 2017 – a $1.35 or a 4.04% drop.

Then, on October 30, 2017, Omega announced its third quarter 2017 financial results. The next day, the Company held a conference call to discuss its results, wherein Daniel Booth disclosed that the Company “[continued] to experience specific operator performance issues” in addition to issues with Signature Healthcare, due to “liquidity issues [that] are impacting the ability of these operators to pay rent on a timely basis.” During the same call, Robert Stephenson, the Company’s Chief Financial Officer, stated that the Company’s decrease in operating revenue “was primarily a result of placing Orianna on a cash basis”.

Following the announcement, Omega’s share price fell from $30.97 per share on October 30, 2017 to a closing price of $28.86 on October 31, 2017 - a $2.11 or a 6.81% drop.

Contact Us

To contact Faruqi & Faruqi, LLP please call (877) 247-4292 or (212) 983-9330, or please
fill out the form below and a Firm representative will contact you.

  • Case:
    Omega Healthcare Investors, Inc. (OHI)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/20/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.