NEW YORK, Nov. 21, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at MOL Global, Inc. ("MOL Global" or the "Company") (NasdaqGS: MOLG).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that MOL Global was experiencing significant accounting problems and would be unable to release its financial performance to shareholders.
On October 9, 2014, MOL Global stock opened for trading at $10.75 in its initial public stock offering ("IPO"). However, just over one month after the IPO on November 21, 2014, MOL Global announced that the Company had rescheduled the release of its third quarter 2014 financial results and that the Company's Chief Financial Officer had resigned.
On this news, shares of MOL Global fell by over $4.77 per share, or more than 53%, on November 21, 2014 to close at $4.09.
Request more information now by clicking here: www.faruqilaw.com/MOLG. There is no cost or obligation to you.
If you invested in MOL Global stock or options in connection with the Company's IPO and would like to discuss your legal rights, visit www.faruqilaw.com/MOLG. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected] Faruqi & Faruqi, LLP also encourages anyone with information regarding MOL Global's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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