Glancy Prongay & Murray LLP Commences Investigation on Behalf of Omega Healthcare Investors, Inc. Investors (OHI)

Business Wire

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Omega Healthcare Investors, Inc. (“Omega” or the “Company”) (NYSE: OHI) investors concerning the Company and its officers’ possible violations of federal securities law. To obtain information or aid in the investigation, please visit the Omega investigation page on our website www.glancylaw.com/case/omega-healthcare-investors-inc.

On October 31, 2017, the Company held a conference call to discuss its third quarter results. On the call, Daniel J. Booth, the Company’s COO, stated that Omega was experiencing “operator performance issues,” including issues with Signature Healthcare, one of the Company’s top ten operators. On the same call, Robert Stephenson, the Company’s CFO, stated that operating revenue for the quarter was approximately $220 million, compared to $225 million for the third quarter of 2016, and that “[t]he decrease was primarily a result of placing Orianna on a cash basis” which caused the Company to record no Orianna revenue for the quarter. Stephenson also stated that the Company lowered its 2017 adjusted funds from operations guidance due, in part, to “the temporary loss of Orianna revenue for both the third and fourth quarters” and the fact that the Company placed another operator, Daybreak, on a cash basis effective September 1st.

On this news, the Company’s stock price fell $2.11 per share, or 6.8%, to close at $28.86 per share on November October 31, 2017, thereby injuring investors.

If you purchased Omega securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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