UPCOMING DEADLINE: 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, Dec. 24, 2013
NEW YORK, Dec. 24, 2013 /PRNewswire/ --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.
(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO )
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
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 email@example.com or
by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
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.
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
SOURCE Levi & Korsinsky, LLP
Press spacebar to pause and continue. Press esc to stop.