LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against Ominto, Inc. (“Ominto” or the “Company”) (Nasdaq: OMNT) concerning possible violations of federal securities laws.
To get more information about this investigation, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or by email at firstname.lastname@example.org.
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 alleges 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 the Company’s Chief Executive Officer. 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 is 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.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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