OCA Omnichannel Acquisition Corp

Allan Kanner & Associates, P.L.L.C., a class action law firm based in New Orleans, Louisiana, announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Louisiana on behalf of purchasers of Orthodontic Centers of America, Inc. ("OCA" or "the Company") (NYSE:OCA) common stock during the period between May 18, 2004, and June 6, 2005 (the "Class Period"). The civil action number is 05-2173. A copy of the complaint is available from the Court and will be posted on Allan Kanner & Associates' website, www.kanner-law.com, until August 8, 2005. If you are an investor who has lost money on your OCA transactions and wish to discuss the litigation, you may contact Allan Kanner or Conlee Whiteley. They may be reached at 1-800-331-1546, or 504-524-5777. Any member of the class who desires to be appointed lead plaintiff in the class action must file a motion with the Court no later than August 8, 2005 on their own or through counsel of their choice. Class members must meet certain legal requirements to serve as a lead plaintiff. You may also choose to do nothing and remain an absent class member. Allan Kanner & Associates will be happy to explain the lead plaintiff process and attempt to answer your questions concerning your rights as a class member. Allan Kanner & Associates has extensive experience in class actions. Their recent cases can be viewed at www.kanner-law.com. The complaint which can also be viewed at - - www.kanner-law.com - - asserts claims against the Defendants under Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934. The complaint alleges that during the Class Period, Defendants issued false and misleading financial statements and failed to present the Company's financial statements in conformity with Generally Accepted Accounting Principles ("GAAP"). In addition, Defendants' Sarbanes-Oxley certifications during the Class Period were false and misleading. On June 7, 2005, before the opening of trading, OCA shocked the market by announcing it had determined that the amount of patient receivables reported at each of March 31, June 30, and September 30, 2004 was overstated by material amounts. Although the Company said that it has not yet determined the amount by which the receivables were overstated or their impact on patient revenue, the Company announced its Audit Committee's conclusion that, due to these overstatements, the previously issued quarterly financial statements for the first, second and third quarters of 2004 will need to be restated and should no longer be relied upon. OCA also announced that it had discovered other accounting errors, which it was still reviewing, and had placed its Chief Operating Officer, Bartholomew F. Palmisano, Jr., on administrative leave as of June 1, 2005. In response to this news, OCA stock lost approximately 40% of its value on enormous trading volume of over 9 million shares, dropping $1.57 to close at $2.46. Accordingly, as a result of the Company's misrepresentations, OCA investors have sustained tremendous losses, and stand to lose much more as the full extent and magnitude of the restatement and fraud is disclosed.