SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 25, 2011 13:11 ET

The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in Omnicare, Inc. of Class Action Lawsuit and Lead Plaintiff Deadline of October 24, 2011

NEW YORK, NY--(Marketwire - Aug 25, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Kentucky, Covington Division on behalf of purchasers of Omnicare, Inc. ("Omnicare" or the "Company") (NYSE: OCR) common stock from January 10, 2007 through August 05, 2010 (the "Class Period").

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The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. According to the complaint, Omnicare engaged in a large-scale scheme to defraud the federal Medicare program and several state Medicaid programs by submitting claims for reimbursement that did not conform to Medicare and Medicaid regulations. During the Class Period, Omnicare's reported net sales and accounts receivable included the proceeds of the Medicare/Medicaid fraud, and as a result the reported figures were artificially inflated.

If you are a member of the class and suffered a loss in Omnicare stock, you have until October 24, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph Levi, Esq. either via email at or by telephone at (877) 363-5972, or visit

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171