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 - EconoTimes)
NEW YORK, March 03, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Omega Protein Corporation (“Omega Protein” or the “Company”) (NYSE:OME) in the United States District Court for Central District of California on behalf of persons or entities who purchased Omega Protein stock on the open market from August 3, 2016 and March 1, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the SEC is requesting information in connection with an investigation relating to the Company’s subsidiary’s compliance with its probation terms and the Company’s protection of whistleblower employees; (2) 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; and (3) consequently, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On March 1, 2017, post-market, the Company revealed that it had received a subpoena from the U.S. Securities and Exchange Commission seeking information about an investigation of the Company subsidiary’s compliance with its probation terms and the Company’s protection of whistleblower employees. Following this news, the Company stock dropped as much as $5.86 per share, or 22.32%, during intraday trading on March 2, 2017.
If you wish to serve as lead plaintiff, you must move the Court no later than May 2, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
