NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Ominto, Inc. (NASDAQ:OMNT) resulting from allegations that Ominto may have issued materially misleading business information to the investing public.
On May 30, 2017, Seeking Alpha published an article stating that Ominto entered into two highly questionable transactions, including acquiring a Danish entity. The article states that the transactions were intended to increase Ominto’s book value to help it attain a NASDAQ listing in March 2017, which triggered bonuses for Ominto’s CEO. The article further states that one of the largest shareholders of the acquired Danish company is also a shareholder of Ominto, has been convicted of fraud, and alleged to have engaged in insider trading. The article states that his affiliation with one of the acquired companies has not been disclosed by Ominto to the SEC. On this news, shares of Ominto fell sharply during intraday trading.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Ominto investors. If you purchased shares of Ominto on or before May 30, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1138.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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