Bragar Eagel & Squire, P.C. Reminds Investors That a Shareholder Lawsuit Has Been Filed Against Omega Healthcare Investors, Inc. (OHI) and Encourages OHI Investors to Contact the Firm

NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that a shareholder lawsuit has been filed against Omega Healthcare Investor, Inc. OHI officers and directors for alleged breaches of fiduciary duty, abuse of control, gross mismanagement, and violations of the Securities Exchange Act of 1934. 

According to the complaint, Omega's second largest operator, Orianna Health Systems, represented 7% of Omega's overall investment portfolio, with a gross investment of over $619 million.  In 2016 and early 2017, Orianna experienced operational pressures that dramatically affected its profitability and prevented it from paying rent to Omega.  Although Orianna was delinquent on rent payments in addition to its own real estate taxes, Omega told investors that Orianna was on the road to recovery and lent Orianna money to pay its rent delinquencies to Omega.  The truth was finally revealed when Omega recorded a $194.7 million impairment on its direct financing leases with Orianna, and $9.5 million in provision for uncollectible accounts related to Orianna. 

If you are a stockholder of Omega, 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 Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information concerning our investigation into Omega, please go to http://www.bespc.com/omega/.  For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes.

Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648 
investigations@bespc.com   
www.bespc.com