Gardy & Notis, LLP Files a Class Action Lawsuit on Behalf of All Purchasers of Shares of Common Stock of Omnicare, Inc. -- OCR

| Source: Gardy & Notis, LLP

ENGLEWOOD CLIFFS, N.J., Aug. 24, 2011 (GLOBE NEWSWIRE) -- Gardy & Notis, LLP has filed a class action lawsuit in the United States District Court for the Eastern District of Kentucky on behalf of all purchasers of shares of common stock of Omnicare, Inc. ("Omnicare") (NYSE:OCR) during a class period of January 10, 2007 to August 5, 2010.

The class action seeks to recover damages on behalf of plaintiff and a class of all other individual and institutional investors who purchased or otherwise acquired shares of Omnicare common stock during the class period. The defendants in the case are Omnicare, Joel Gemunder, David W. Frosel, Jr., and John L. Workman. The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by concealing material information and making false and misleading statements relating to Omnicare's business and financial condition, particularly with respect to a widespread scheme to defraud the federal Medicare program and several state Medicaid programs by submitting claims for reimbursement for services that did not conform with Medicare and Medicaid regulations.

If you purchased shares of Omnicare common stock between January 10, 2007 and August 5, 2010, you may, no later than October 24, 2011, request that the Court appoint you as lead plaintiff for the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. You must meet certain legal requirements to serve as a lead plaintiff.

For more information regarding the lawsuit, or to obtain a copy of the complaint filed in the lawsuit, please contact plaintiff's counsel, Charles A. Germershausen at Gardy & Notis, LLP, 560 Sylvan Avenue, Englewood Cliffs, New Jersey 07632, Tel: 201-567-7377, Fax: 201-567-7337.

Gardy & Notis, LLP
Charles A. Germershausen
Tel: 201-567-7377
Fax: 201-567-7337