LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Ominto, Inc. (“Ominto” or the “Company”) (NASDAQ: OMNT) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Ominto investigation page on our website at www.glancylaw.com/case/ominto-inc.
On May 30, 2017, a report was published on SeekingAlpha.com questioning the Company’s transaction with a Danish entity. According to the report, one of the largest shareholders of the acquired Danish company, who is also a shareholder of Ominto, was convicted of fraud and accused of insider trading. The report claims that his affiliation with one of the acquired companies was not disclosed to the SEC. The report also alleges that the transaction was intended to increase Ominto’s book value, in order to trigger bonuses for the CEO.
On this news, shares of Ominto fell more than 23% on May 31, 2017, thereby injuring investors.
If you purchased Ominto securities, have information or would like to learn more about these claims, or 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 firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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