Energy News / Shareholders Foundation, Inc.

NASDAQ:OTIC Shareholder Alert: Investigation over Potential Wrongdoing at Otonomy Inc

Via: ReleaseWire

Updated 12:15 PM CDT, Wed, September 27,2017

An investigation on behalf of investors in Otonomy Inc (NASDAQ:OTIC) shares over potential wrongdoing at Otonomy Inc was announced and NASDAQ:OTIC stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 09/27/2017 -- An investigation on behalf of investors in shares of Otonomy Inc (NASDAQ:OTIC) was announced concerning possible breaches of fiduciary duties by certain officers and directors at Otonomy Inc.

Investors who purchased shares of Otonomy Inc (NASDAQ:OTIC) and currently hold any of those NASDAQ:OTIC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain Otonomy directors breached their fiduciary duties and caused damage to the company and its shareholders.

On August 30, 2017, Otonomy Inc announced that its Phase 3 clinical trial of OTIVIDEX missed its primary endpoint. Otonomy, Inc. also announced an immediate suspension of all development activities for OTIVIDEX. David A. Weber, President and CEO of Otonomy, Inc, said "We are greatly disappointed by these results, and surprised by both the higher placebo response and lower OTIVIDEX improvement than observed in our previous trials." Shares of Otonomy Inc (NASDAQ:OTIC) declined on September 1, 2017 to $3.40 per share.

Those who purchased shares of Otonomy Inc (NASDAQ:OTIC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqotic-shareholder-alert-investigation-over-potential-wrongdoing-at-otonomy-inc-870642.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com