Omega Protein Corporation investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, 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 Class Period begins on June 4, 2013, when Omega issued a press release entitled “Omega Protein Subsidiary Reaches Agreement To Resolve Previously Disclosed Coast Guard and EPA Investigation.”
The complaint alleges that, on March 1, 2017, the company disclosed 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. 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.
Following this news, the price of Omega common stock fell $6.25 per share, or 23.8%, to close at $20.00 per share on March 2, 2017, on heavy trading volume.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose: (1) that Omega’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, the defendants’ statements about Omega’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than May1, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.
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 will adequatley represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org.
Kessler Topaz Meltzer & Check, LLP
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