NEW YORK, Oct. 24, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of NQ Mobile, Inc. ("NQ Mobile" or the "Company") (NYSE: NQ). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether NQ Mobile and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On October 24, 2013, shares of NQ Mobile fell in massive volume after short seller Muddy Waters Research Group announced a "strong sell" rating on the stock, calling the Chinese developer of mobile security software a "massive fraud." Muddy Waters accused the company of falsifying financial information and vastly overstating its market share in China.
On this news, shares of NQ Mobile fell $10.79 per share to more than 47.16% on intraday trading to a price of $12.09 on October 24, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP