SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Ominto, Inc. (OMNT)
NEW YORK, May 30, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Ominto, Inc. ("Ominto" or the "Company") (NASDAQ: OMNT). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/omnt.
The investigation concerns whether Ominto and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 30, 2017, Seeking Alpha published a report expressing that Ominto entered two very questionable transactions, including acquiring a Danish entity. The Seeking Alpha report continues to describe (1) how the transactions were intended to increase Ominto's book value to help it attain a NASDAQ listing in March 2017, prompting bonuses for Ominto's CEO; (2) that one biggest shareholders of the acquired Danish company is also an Ominto shareholder who has been convicted of fraud, and alleged to have engaged in insider trading; and (3) that Ominto did not disclose this large shareholder's affiliation with one of the acquired companies to the Securities Exchange Commission. Following this news, Ominto stock dropped sharply during intraday trading.
If you are aware of any facts relating to this investigation, or purchased shares of Ominto, you can assist this investigation by visiting the firm's site: www.bgandg.com/omnt. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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