An investigation for investors in NQ Mobile Inc (ADR) (NYSE:NQ) shares over potential securities laws violations was announced and NYSE:NQ stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 12/19/2012 -- An investigation on behalf of investors of NQ Mobile Inc (ADR) (NYSE:NQ) shares over potential securities laws violations in connection certain financial statements was announced.
Investors who purchased shares of NQ Mobile Inc (ADR) (NYSE:NQ), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of NQ Mobile Inc (ADR) (NYSE:NQ) concerning whether a series of statements regarding NQ Mobile’s business, its prospects and its operations were materially false and misleading at the time they were made.
NQ Mobile Inc (ADR) (NYSE:NQ) reported that its annual Revenue rose from $15.27 million in 2010 to $36.20 million in 2011 and its Net Loss of $9.83 million in 2010 turned into a Net Income of $10.25 million in 2011.
Shares of NQ Mobile Inc (ADR) (NYSE:NQ) grew from as low as $3.83 per share in September 2011 to as high as $11.80 per share in April 2012.
Then on December 10, 2012, a report was published claiming that NQ Mobile Inc. allegedly is massively overstating its industry position and its "user base has been inflated more than tenfold."
Shares of NQ Mobile Inc (ADR) (NYSE:NQ) declined from $6.30 on Friday, December 7, 2012, to as low as $5.30 per share on December 10, 2012.
On December 11, 2012, NQ Mobile Inc. (NYSE: NQ) rejected as false allegations made in an article published on seekingalpha.com on December 10, 2012, written by an author who has admitted to holding a short position in the Company.
Shares of NQ Mobile Inc (ADR) (NYSE:NQ) regained value and closed on December 18, 2012 at $6.25 per share.
Those who purchased shares of NQ Mobile Inc (ADR) (NYSE:NQ) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
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