Is The Nasdaq Embarrassed To Delist Ominto?

We believe the Nasdaq failed to do sufficient diligence before agreeing to list the stock of Ominto Inc.  Even worse, we believe the exchange has largely ignored several of OMNT’s actions that we believe contradict Nasdaq’s stated objective which is “to maintain the quality of and public confidence in its market, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest.

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Only months after being listed on the Nasdaq, OMNT is now no longer is in compliance with Nasdaq’s listing requirements. Furthermore, it has come to light that OMNT has engaged...