LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the May 2, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Omega Protein Corporation (“Omega” or the “Company”) (NYSE: OME) securities between June 4, 2013 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 or otherwise acquired Omega Protein shares during the Class Period 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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