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NQ Mobile Sued by Investor in N.Y. After Stock Plunge

NQ Mobile Inc. was sued by an investor who seeks to represent a group of shareholders who allegedly lost money after a research firm said the Chinese company’s revenue was largely exaggerated.

Phuong Ho, a stockholder, filed the complaint today in federal court in Manhattan on behalf of all investors who bought NQ Mobile securities from a May 5, 2011, initial public offering to Oct. 24.