BERWYN, Pa., March 3, 2017 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased Omega Protein Corporation ("Omega Protein" or the "Company") (NYSE: OME) securities between June 4, 2013 and March 1, 2017, inclusive (the "Class Period").
Omega Protein shareholders may, no later than May 2, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of May 2 and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, visit: www.maniskas.com.
Omega Protein Corporation develops, produces, and delivers products to enhance the nutritional integrity of foods, dietary supplements, and animal feeds worldwide.
The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made 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: (1) that Omega Protein's subsidiary was potentially not in compliance with its probation terms; (2) that the Company was not properly protecting whistleblower employees; (3) that, as a result of the foregoing, the Company was vulnerable to an SEC investigation and potential civil and criminal liability; and (4) that, as a result of the foregoing, Defendants' statements about Omega Protein's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 1, 2017, Omega Protein disclosed that in December 2016, it received a subpoena from the SEC requesting information in connection with an investigation relating to a subsidiary's compliance with its probation terms and the Company's protection of whistleblower employees. On this news, Omega stock dropped as much as $5.86 per share, or 22.32%, during intraday trading on March 2, 2017.
If you are a member of the class, you may, no later than May 2, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at firstname.lastname@example.org or visit: www.maniskas.com. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website: www.maniskas.com.
RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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SOURCE RM LAW, P.C.