Shapiro Haber & Urmy LLP Announces Suit Against NQ Mobile, Inc. And Others

Shapiro Haber & Urmy LLP, a firm with many years of experience representing investors, represents investors in NQ Mobile, Inc. ("NQ Mobile" or the "Company") (Ticker: NQ), and announces that on October 25, 2013, a class action complaint was filed against the Company in the United States District Court for the District of Massachusetts on behalf of a class consisting of all those who purchased or otherwise acquired securities of NQ Mobile between May 5, 2011 and October 24, 2013, including purchases in NQ’s initial public offering of May 5, 2011 (the "Class Period"). The lawsuit asserts claims under the federal securities laws.

On October 24, 2013, Muddy Waters Research issued a detailed report (the "Muddy Waters Report") that claimed NQ Mobile to be a massive fraud and asserting that NQ Mobile had, among other things, inflated revenue and misrepresented cash balances. The report alleges, among other matters, that at least 72% of NQ Mobile's purported China security software revenue is fraudulent.

If you purchased NQ Mobile securities during the Class Period, you may ask the court to appoint you as a Lead Plaintiff for the class. The deadline to seek appointment as Lead Plaintiff is December 27, 2013. If you wish to join the lawsuit or discuss your rights in connection with the lawsuit, please contact Lauren Wolahan of Shapiro Haber & Urmy LLP at (800) 287-8119 or (617) 439-3939, or by email to lwolahan@shulaw.com or cases@shulaw.com. More information about the firm is available at the firm’s website, www.shulaw.com.

Copyright Business Wire 2010

If you liked this article you might like

The Bears Continue to Be Frustrated

NQ Mobile Stock Soaring on Deal to Divest FL Business, Sell Showself Unit

Market Recon: Understand How Interest Rates Affect You, and You Will Survive

Futures Traders Await Confirmation of Breakout Formations in the Move Higher

Analysts' Actions -- Chipotle, Disney, Brinker, JPMorgan and More