Investor Alert: Wites & Kapetan Announces Investigation of NQ Mobile, Inc.’s Decline in Share Value & Possible Class Action...
October 28 2013 - 12:26PM
Business Wire
Wites & Kapetan, P.A. is announcing their investigation of
NQ Mobile, Inc. (“NQ Mobile” or the “Company”) (NYSE: NQ). On
October 24, 2013, Muddy Waters Research announced a “strong sell”
rating on NQ Mobile stock, calling the Chinese developer of mobile
security software a “massive fraud.” The Muddy Waters report
asserts that NQ Mobile has greatly exaggerated its true financial
performance and its market share in China. On October 24, 2013
following this news, NQ Mobile’s stock price declined by $10.79 per
share, more than 47%, to close at $12.09 per share. On October 25,
2013, NQ Mobile responded to the Muddy Waters allegations and
accusations in a press release that asserts that the Company
“believes that the allegations and accusations . . . are false and
inaccurate.” However, the Company also announced that its board of
directors has formed a special committee to review the
allegations.
If you are an investor who purchased NQ Mobile stock you may
have a legal claim against the Company and could serve as the lead
plaintiff in a class action lawsuit. If you are interested in being
the lead plaintiff, or would like to speak with an attorney about
your legal rights, contact the attorneys at Wites & Kapetan,
P.A. by email at info@wklawyers.com or toll-free at 1 (866)
277-8631.
Wites & Kapetan, P.A. is a law firm with offices in Oakland,
California and Lighthouse Point, Florida, with expertise in the
representation of investors in securities fraud and investor
litigation claims. You may visit its website at www.wklawyers.com.
Michele Desoer, an attorney at Wites & Kapetan, is a member of
the State Bar of California and is responsible for the content of
this advertisement.
Wites & Kapetan, P.A.Michele Desoer,
1-866-277-8631info@wklawyers.com
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