Morgan & Morgan Announces Investigation of NQ Mobile, Inc.
NEW YORK, Oct. 25, 2013 /PRNewswire/ -- Morgan & Morgan is investigating possible securities law violations involving NQ Mobile, Inc. ("NQ Mobile" or the "Company") (NQ). Morgan & Morgan's investigation involves whether NQ Mobile or its officers and directors have violated the Securities Exchange Act of 1934 or any other federal securities laws.
If you are investor in NQ Mobile common stock or convertible bonds that were issued on October 9, 2013, or if you have any information relevant to this investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
The NQ Mobile investigation is related to recent allegations in Muddy Waters Research report issued on October 24, 2013 that deems the Company a "massive fraud." The report alleges that nearly 75% of its major revenue streams are "fictitious," as NQ is its own largest client, and that actual market share is 1.5% compared to the 55% as the company reports. Following this report, shares fell almost 50% to close at $12.09 on October 24, 2013.
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