OCA Omnichannel Acquisition Corp

Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/oca/) today announced that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Louisiana on behalf of purchasers of OCA, Inc. ("OCA" or "the Company") (NYSE:OCA) common stock during the period between May 18, 2004 and June 7, 2005 (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Lerach Coughlin at 800/449-4900 or 619/231-1058 or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/OCA/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges OCA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company provides business services to orthodontic and pediatric dental practices in the United States. The company provides affiliated practices with a range of operational, purchasing, financial, marketing, administrative, and other business services, as well as capital and proprietary information systems. The Complaint alleges that, throughout the Class Period, defendants issued numerous positive statements and filed quarterly reports with the Securities and Exchange Commission which described the Company's financial performance. As alleged in the Complaint, these statements were materially false and misleading because they failed to disclose and/or misrepresented the following adverse facts, among others: (a) that defendants had engaged in improper accounting practices. OCA has now admitted that its prior financial reports are materially false and misleading as it announced that it is going to restate its results for the first three quarters of 2004 and potentially prior periods; (b) that certain journal entries in the Company's general ledger were improperly recorded; (c) that certain data provided to the Company's independent accounting firm had been improperly changed; (d) that the Company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; and (e) that as a result of the foregoing, the values of the Company's patient receivables and patient revenue were materially overstated at all relevant times. On June 7, 2005, the Company shocked the market when it issued a press release announcing that it was further delaying the filing of its annual report, that it intended to restate its quarterly financial statements for 2004 and that it had placed the Company's Chief Operating Officer, Bartholomew E. Palmisano Jr., on administrative leave. Specifically, the Company admitted that, among other things, it had materially overstated its patient receivables and patient revenue for the first three quarters of 2004. Following this announcement, shares of the Company's stock fell $1.53 per share, or almost 38%, to close at $2.50 per share, on unusually heavy trading volume. Plaintiff seeks to recover damages on behalf of all purchasers of OCA common stock during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Lerach Coughlin, a 150-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.