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
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
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.
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