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For Immediate Release
Contact: Danziger Shapiro, P.C.
215-545-4830 leavitt@DS-L.com
Danziger Shapiro, P.C.
Announces Investigation of NQ Mobile, Inc.
PHILADELPHIA, PA, December 16, 2013- Danziger Shapiro, P.C., a Philadelphia based litigation law firm, (www.DS-L.com) is investigating securities fraud claims against NQ Mobile, Inc.. (NYSE: NQ). This inquiry centers on allegations that statements issued by NQ Mobile regarding its business operations and the company’s financial condition were deceptive and false.
NQ Mobile purports to provide security solutions for the mobile phone market. On October 24, 2013, a report issued by Muddy Waters states that NQ Mobile had engaged in fraudulent practices by, among other things, vastly overstating its market share in China by asserting it had a 55% share of the market when in fact it only had a 1.5% market share and that at least 72% of NQ Mobile’s alleged Chinese security revenue is fictitious. Upon the release of this news, in less than 36 hours, shares of NQ Mobile dropped approximately 56%, representing over $500 million in losses to investors
Individuals who purchased NQ Mobile shares between May 5, 2013 and October 24, 2013 who would like to learn more about this investigation, have an interest in joining a class-action lawsuit, or have any questions concerning this announcement and their rights, should on or before December 23, 2013, contact Douglas M. Leavitt, Esquire: (215) 545-4830 or visit: www.DS-L.com. You may also email Mr. Leavitt at leavitt@DS-L.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
About Danziger Shapiro, P.C.
Danziger Shapiro, P.C., is a litigation law firm committed to representing investors nationwide in securities matters and shielding investors against corporate misconduct. For additional information, please visit www.DS-L.com.