Zeldes Haeggquist & Eck, LLP Announces Investigation of NQ Mobile, Inc.
2013年10月25日 - 10:02PM
ビジネスワイヤ(英語)
Zeldes Haeggquist & Eck, LLP, a shareholder and consumer
rights litigation firm, has commenced an investigation into claims
on behalf of purchasers of NQ Mobile Inc. (NYSE:NQ) (“NQ” or the
“Company”) securities concerning potential violations of the
Securities Act of 1933 and the Securities Exchange Act of 1934 by
Company officers and directors during the period between May 5,
2011 through May 2, 2013 (the “Class Period.”)
Zeldes Haeggquist & Eck’s investigation concerns whether NQ
issued materially false and misleading statements regarding the
Company’s business and financial prospects during the Class Period
and in connection with the Company’s May 5, 2011 initial public
offering (“IPO”).
Founded in 2005 and headquartered in Beijing, PRC, NQ provides
various mobile Internet services. The company was formerly known as
NetQin Mobile Inc. and changed its name to NQ Mobile Inc. in April
2012.
On May 5, 2011 NQ conducted its IPO of American Depositary
Shares (NYSE:NQ). The shares were priced at $11.50 per share.
Following the IPO, and during the Class Period, NQ share prices
increased significantly, climbing to nearly $25 per share in
October 2013.
Then, on October 24, 2013, equity research firm Muddy Waters LLC
initiated coverage on NQ with a “Strong Sell” rating and a
projected target price of less than $1. Upon the release of this
information, on October 24, 2013, NQ shares declined 47% to $12.09
per share from $22.88 per share, on unusually heavy volume of 29.3
million shares traded.
What You Can Do
If you purchased NW American Depository Shares during the Class
Period and/or in the Company’s IPO and you wish to discuss this
investigation, or have questions about this notice or your legal
rights, please contact attorney Amber L. Eck at 619-342-8000, or by
email at ambere@zhlaw.com. There is no cost to you.
Zeldes Haeggquist & Eck, LLP is a full-service law firm
which brings major class actions nationwide on behalf of defrauded
investors and consumers and handles a variety of complex business
litigation matters. Please visit www.zhlaw.com or our blog for more
information about the firm.
Zeldes Haeggquist & Eck, LLPAmber L.
Eck619-342-8000ambere@zhlaw.com
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