EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Fraud Claims Against China Mobile Games & Entertainmen...
June 19 2014 - 6:44PM
Business Wire
The Rosen Law Firm, P.A. announces that it is investigating
potential securities fraud claims against China Mobile Games and
Entertainment Group Limited (NASDAQ:CMGE) resulting from
allegations that the Company’s executives may have been involved in
a bribery scheme.
China Mobile Games is the largest publisher and a leading
developer of mobile games in China. On June 19, 2014, Bloomberg
reported that the Company disclosed in a conference call that it
had suspended nine senior executives, including its President Ying
Shuling. The suspension was related to alleged involvement in
bribing game developers.
On this news, shares of China Mobile Games fell $4.26 per share,
or more than 22%, to close at $14.63 per share on June 19, 2014,
damaging investors. On that same day, NASDAQ halted trading in
China Mobile Games for "additional information requested" from the
Company at a last price of $14.63 until the Company fully satisfied
NASDAQ’s request.
The Rosen Law Firm is preparing a class action lawsuit on behalf
of China Mobile Games investors. If you purchased China Mobile
Games securities prior to June 19, 2014, you may visit the website
at http://rosenlegal.com to join the action. You may also contact
Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll
free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, New
York 10016Tel: 212-686-1060Toll Free: 866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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