BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 2, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class of investors who purchased or otherwise acquired Omega Protein Corporation (“Omega” or the “Company”) (NYSE: OME) securities between August 3, 2016 and March 1, 2017, inclusive (the “Class Period”). Omega investors have until May 2, 2017 to file a lead plaintiff motion.
On March 1, 2017, the Company disclosed that it had received a subpoena from the SEC seeking information in connection with an investigation of an Omega subsidiary’s compliance with its probation terms and the Company’s protection of whistleblower employees.
On this news shares of Omega Protein fell by over 20%, or $5.50 per share, during intra-day trading on March 2, 2017.
The complaint filed in this action alleges that the Company made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Omega’s subsidiary was potentially not in compliance with its probation terms; (2) that the Company was not properly protecting whistleblower employees; (3) that, as a result of the foregoing, the Company was vulnerable to an SEC investigation and potential civil and criminal liability; and (4) that, as a result of the foregoing, Defendants’ statements about Omega’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased Omega Protein shares, you may move the Court no later than May 2, 2017 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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