IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces that it is investigating claims against Ominto, Inc. (“Ominto” or the “Company”) (Nasdaq: OMNT) concerning possible violations of federal securities laws.
If you purchased shares of Ominto and want more information, please contact Joon M. Khang, Esquire, of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
The investigation concerns whether Ominto and certain of its officers and/or directors violated federal securities laws. On May 30, 2017, Seeking Alpha published an article stating that the Company 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 Securities and Exchange Commission. When this information was released, the Company’s shares fell in value.
If you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
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