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The Pawar Law Group announces it is investigating potential securities claims on behalf of shareholders of Ominto, Inc. (OMNT) resulting from allegations that the Company may have issued materially misleading business information to the investing public.
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 states 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 Ominto’s CEO. 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 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. On this news, shares of Ominto fell sharply during intraday trading.
Our investigation concerns whether the Company issued false and misleading statements to investors causing investor losses. If you own Company shares and wish to learn how to protect your investment and recover your losses in Company stock, please visit http://pawarlawgroup.com/cases/ominto/ or contact Vik Pawar at 212-571-0805.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938