OMINTO INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Ominto, Inc. To Contact The Firm
NEW YORK, July 19, 2017 /PRNewswire/ -- 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. Specifically, on May 30, 2017, Seeking Alpha published an article alleging that Ominto entered into two highly questionable transactions in order to increase Ominto's book value to help it attain a NASDAQ listing in March 2017. The article also states that Ole Abildgaard ("Abildgaard"), one of the largest shareholders of the acquired Danish company, is also a shareholder of Ominto. Furthermore, the article alleges that Abildgaard has been convicted of fraud, alleged to have engaged in insider trading, and his affiliation with one of the acquired companies has not been disclosed by Ominto to the Securities and Exchange Commission.
On this news, the Company's share price declined, causing harm to investors.
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.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected].
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE Faruqi & Faruqi, LLP
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