NEW YORK, March 31, 2017 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Omega Protein Corporation (“Omega” or the “Company”) (NYSE: OME) and certain of its officers. The class action, filed in United States District Court, Central District of California, 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 August 3, 2016 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 [email protected] 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 develops, produces, and delivers products to enhance the nutritional integrity of foods, dietary supplements, and animal feeds worldwide.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the SEC is requesting information in connection with an investigation relating to Omega’s subsidiary’s compliance with its probation terms and Omega’s protection of whistleblower employees; (2) it is possible that the foregoing matter could result in a material adverse effect on Omega’s business, reputation, results of operation and financial condition; and (3) as a result, Defendants’ statements about Omega’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On March 1, 2017, during aftermarket hours, Omega filed a Form 10-K for the fiscal year ended December 31, 2016 with the SEC, revealing that in December 2016, it “received a subpoena from the SEC requesting information in connection with an investigation relating to a Company subsidiary’s compliance with its probation terms and the Company’s protection of whistleblower employees.” Omega further revealed that “it is possible that the foregoing matter could result in a material adverse effect on the Company’s business, reputation, results of operation and financial condition.”
On this news, shares of Omega fell $6.25 per share or over 23.81% from its previous closing price to close at $20.00 per share on March 2, 2017, damaging investors.
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
Robert S. Willoughby
SOURCE Pomerantz LLP