BOSTON, March 21, 2017 /PRNewswire-USNewswire/ -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm representing investors nationwide, reminds investors of Omega Protein Corporation ("Omega" or the "Company") (NYSE: OME) of the May 1, 2017 lead plaintiff deadline in the federal securities class action pending against the Company and certain of its officers and directors.
Deadline Reminder: If you purchased Omega securities between June 3, 2014 and March 1, 2017 (the "Class Period"), you have until May 1, 2017 to move the court for lead plaintiff status.
On March 1, 2017, Omega revealed 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 also 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 nearly 25%, causing tens of millions in losses to investors.
The class action lawsuits allege that throughout the Class Period, 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.
As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
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Block & Leviton LLP
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SOURCE Block & Leviton LLP