The Rosen Law Firm, P.A. announces that it is investigating potential securities claims against NQ Mobile Inc. (NYSE:NQ) resulting from allegations that the company may have issued materially misleading business information to the investing public in connection with its offering of $172.5 million of convertible senior notes on October 9, 2013.
On October 24, 2013 Muddy Waters Research issued a report asserting that NQ has greatly exaggerated its true financial performance. The report states, among others things, that: at least 72% of NQ’s purported China security revenue is fictitious; NQ’s largest customer is actually itself; and NQ’s actual market share in China is approximately 1.5% as opposed to 55% as the company claims. In addition, the report also questions the veracity of NQ’s cash balance, its reported international revenue and its financial statements filed with the State Administration for Industry & Commerce of the People’s Republic of China and U.S. Securities and Exchange Commission.
The Rosen Law Firm is preparing a lawsuit on behalf of convertible bondholders as a result of this adverse information. If you purchased NQ convertible senior notes, you may visit the website at http://rosenlegal.com to join the action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm has demonstrated experience representing convertible bondholders against China-based issuers. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.Attorney Advertising. Prior results do not guarantee a similar outcome.