NEW YORK, NY / ACCESSWIRE / April 14, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Omega Protein Corporation ("Omega" or the "Company") (OME) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-02448 is on behalf of a class consisting of investors who purchased or otherwise acquired Omega securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Omega securities between June 4, 2013 and March 1, 2017, both dates inclusive, you have until May 1, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Omega is a nutritional products company that purportedly develops, produces, and delivers products to improve the nutritional integrity of foods, dietary supplements, and animal feeds.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Omega's subsidiary was potentially not in compliance with its probation terms; (ii) the Company was not properly protecting whistleblower employees; (iii) as a result of the foregoing, the Company was vulnerable to a Securities and Exchange Commission investigation and potential civil and criminal liability; and (iv) as a result of the foregoing, Omega's public statements were materially false and misleading at all relevant times.
On March 1, 2017, post-market, Omega disclosed that in December 2016 it received a subpoena from the U.S. Securities and Exchange Commission seeking information in connection with an investigation of an Omega subsidiary's compliance with its probation terms and the Company's protection of whistleblower employees. The Company also disclosed that the investigation could result in a material adverse effect on the Company's business, reputation, results of operation, and financial condition.
On this news, Omega's share price fell $6.25, or 23.81%, to close at $20.00 on March 2, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP