NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Ominto, Inc. (“Ominto” or the “Company”) (NASDAQ:OMNT).
The investigation focuses on whether the Company and its executives violated federal securities laws. On May 30, 2017, Seeking Alpha published an article stating that Ominto entered into two highly questionable transactions. 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 also 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.
If you invested in Ominto stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/OMNT There is no cost or obligation to you.
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