NQ MOBILE, INC. SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against NQ Mobile, Inc. & Its Boar...
November 01 2013 - 1:55PM
Marketwired
NQ MOBILE, INC. SHAREHOLDER ALERT: Levi & Korsinsky, LLP
Reminds Investors of Class Action Against NQ Mobile, Inc. and Its
Board of Directors and a Lead Plaintiff Deadline of December 27,
2013 -- NQ
NEW YORK, NY--(Marketwired - Nov 1, 2013) - Levi & Korsinsky
announces that a class action lawsuit has been commenced in the
USDC for the Southern District of New York on behalf of investors
who purchased NQ Mobile, Inc. ("NQ" or the "Company") (NYSE: NQ)
common stock between May 5, 2011 and October 24, 2013.
For more information, click here:
http://zlk.9nl.com/nq-mobile-nq/.
The complaint alleges that defendants issued materially false
and misleading statements and/or failed to disclose materially
adverse factors. Specifically, the complaint alleges that
defendants failed to disclose, among other things, that NQ far
overstated its presence and market share in China, misrepresented
the size of its paying user base, and that the Company's antivirus
program, Antivirus 7.0, was actually a spyware program that left
users' devices subject to attack, and that the Company's revenue
and reported cash balances were materially overstated at all
relevant times.
On October 24, 2013, Muddy Waters Research issued a report
asserting, among other things, that at least 72% of NQ's purported
China security revenue is fictitious, and that NQ's largest
customer is actually itself. The report also questions the veracity
of NQ's cash balance, its reported international revenue and its
filed financial statements. On October 25, 2013, the Company
announced that its board of directors has formed a special
committee to review the allegations.
If you suffered a loss in NQ you have until December 27, 2013 to
request that the Court appoint you as lead plaintiff. Your ability
to share in any recovery doesn't require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E.
Levi, Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/nq-mobile-nq/.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut, and Washington D.C. The firm
has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard
Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004
Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171
www.zlk.com
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