We study the semi-Riemannian geometry of the foliation F of an indefinite locally conformal Kähler (l.c.K.) manifold M, given by the Pfaffian equation ω=0, provided that ∇ω=0 and c=∥ω∥≠0 (ω is the Lee form of M). If M is conformally flat then every leaf of F is shown to be a totally geodesic semi-Riemannian hypersurface in M, and a semi-Riemannian space form of sectional curvature c/4, carrying an indefinite c-Sasakian structure. As a corollary of the result together with a semi-Riemannian version of the de Rham decomposition theorem any geodesically complete, conformally flat, indefinite Vaisman manifold of index 2s, 0<s<n, is locally biholomorphically homothetic to an indefinite complex Hopf manifold CHsn(λ), 0<λ<1, equipped with the indefinite Boothby metric gs,n.