Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Opera Limited (OPRA)

NEW YORK, NY / ACCESSWIRE / January 20, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Opera Limited ("Opera" or the Company") (NASDAQ:OPRA). Investors who purchased Opera securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/opra.

The investigation concerns whether Opera and certain of its officers and/or directors have violated federal securities laws.

On January 16, 2020, Hindenburg Research ("Hindenburg") published a report asserting that Hindenburg had "a 12-month price target of $2.60 on Opera, representing a 70% downside." Among other issues, Hindenburg reported that Opera's "browser market share is declining rapidly, down ~30% since its IPO"; that Opera was involved in "predatory short-term loans in Africa and India, deploying deceptive ‘bait and switch' tactics to lure in borrowers and charging egregious interest rates ranging from ~365-876%"; that Opera's lending business apps, many of which are offered on Google's Play Store, were "in black and white violation of numerous Google rules" aimed at "curtail[ing] predatory lending"; and that consequently, Opera's entire lending business was "at risk of disappearing or being severely curtailed when Google notices" Opera's alleged violation of its rules. On this news, Opera's American depositary receipt price fell sharply during intraday trading on January 16, 2020.

If you are aware of any facts relating to this investigation, or purchased Opera shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/opra. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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