San Diego, CA -- (SBWIRE) -- 04/06/2015 -- An investor, who purchased shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by iDreamSky Technology Ltd in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's initial public offering on or about August 7, 2014 (the "IPO" or the "Offering"); and/or on the open market between August 8, 2014 and March 13, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2015. NASDAQ:DSKY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of investors of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) who purchased or otherwise acquired iDreamSky American Depositary Shares ("ADSs") pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's initial public offering on or about August 7, 2014 and/or on the open market between August 8, 2014 and March 13, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that iDreamSky Technology Ltd had overstated its ability to monetize its user base and effectively integrate its distribution channels, that, as a result, iDreamSky Technology Ltd had to lower its earnings guidance, and that, as a result of the foregoing, the Company's statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

iDreamSky Technology Ltd reported that its annual Total Revenue rose from $19.38 million in 2012 to $246.57 million in 2013 and that its Net Loss of $9.29 million in 2012 turned into a Net Income of $28.13 million in 2013.

In August 2014 iDreamSky Technology Ltd went public. Shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) grew to as high as $23.66 per share in early September 2014.

On March 13, 2015, iDreamSky Technology Ltd announced a revision its previously issued revenue guidance for the fourth quarter of 2014. iDreamSky Technology Ltd lowered its revenue guidance for the fourth quarter of 2014 to be betweenRMB327.0 million (US $52.7 million) and RMB329.0 million (US $53.0 million), as compared to the previously announced revenue guidance of between RMB390.0 million (US $62.9 million) and RMB410.0 million (US$66.1 million). Shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) declined to $6.67 per share on March 17, 2015.

On April 2, 2015, NASDAQ:DSKY shares closed at $7.28 per share.

Those who purchased shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com