June 12, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Ominto Inc (NASDAQ:OMNT) shares over potential securities laws violations by Ominto Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Ominto Inc (NASDAQ:OMNT) concerning whether a series of statements by Ominto Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Boca Raton, FL based Ominto, Inc. is engaged in online cash back shopping that operates through two segments: e-commerce Cash Back and network marketing, and Film production and Animation. Ominto Inc reported that its Total Revenue declined from $21.29 million for the 12 months period that ended on September 30, 2015 to $17.70 million for the 12 months period that ended on September 30, 2016 and that its Net Loss over those respective time periods declined from $11.70 million to $10.30 million.

Shares of Ominto Inc (NASDAQ:OMNT) reached $17.19 per share in March 2017.

On May 30, 2017, a report was published expressing that Ominto Inc entered two allegedly questionable transactions, including acquiring a Danish entity. The report continued to describe how the transactions were intended to increase Ominto's book value to help it attain a NASDAQ listing in March 2017, prompting bonuses for Ominto's CEO. that one biggest shareholders of the acquired Danish company is also an Ominto shareholder who has been convicted of fraud, and alleged to have engaged in insider trading, and that Ominto Inc did not disclose this large shareholder's affiliation with one of the acquired companies to the Securities Exchange Commission.