June 1, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Otonomy Inc (NASDAQ:OTIC) shares over potential securities laws violations by Otonomy Inc and certain of its directors and officers in connection certain financial statements was announced.

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

Otonomy Inc went public in August 2014 and shares of Otonomy Inc (NASDAQ:OTIC) grew to as high as $40.00 per share in late 2014, respectively $39.48 per share in March 2015.

On May 21, 2015 Otonomy Inc (NASDAQ:OTIC) announced results from its Phase 2b trial evaluating OTO-104 in patients with unilateral Mnire's disease. Otonomy Inc said that OTO-104 demonstrated a 61% reduction from baseline in vertigo frequency in Month 3 vs. 43% for placebo with a p value of 0.067, which narrowly missed achieving statistical significance.