Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Opera Limited (NASDAQ:OPRA) on behalf of Opera stockholders. Our investigation concerns whether Opera has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 16, 2020, Hindenburg Research ("Hindenburg") released a report placing "a 12-month price target of $2.60 on Opera Limited (OPRA), representing a 70% downside." The report listed various issues, including, "Most of Opera's lending business is operated through apps offered on Google’s Play Store. In August, Google tightened rules to curtail predatory lending and, as a result, Opera’s apps are now in black and white violation of numerous Google rules." Hindenburg further stated, "Instead of disclosing to investors that its ‘high-growth’ microfinance segment could be imperiled by these new rules, Opera instead immediately raised $82 million in a secondary offering without disclosing Google's changes to investors."
Following this news, Opera's share price fell $1.69 per share on January 16, 2020, to close at $7.33 per share.
If you purchased or otherwise acquired Opera shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.