ALERT: The Rosen Law Firm Announces Investigation On Behalf of Purchasers of NQ Mobile Inc. Convertible Senior Notes --- NQ
29 October 2013 - 5:16AM
Business Wire
The Rosen Law Firm, P.A. announces that it is investigating
potential securities claims against NQ Mobile Inc. (NYSE:NQ)
resulting from allegations that the company may have issued
materially misleading business information to the investing public
in connection with its offering of $172.5 million of convertible
senior notes on October 9, 2013.
On October 24, 2013 Muddy Waters Research issued a report
asserting that NQ has greatly exaggerated its true financial
performance. The report states, among others things, that: at least
72% of NQ’s purported China security revenue is fictitious; NQ’s
largest customer is actually itself; and NQ’s actual market share
in China is approximately 1.5% as opposed to 55% as the company
claims. In addition, the report also questions the veracity of NQ’s
cash balance, its reported international revenue and its financial
statements filed with the State Administration for Industry &
Commerce of the People’s Republic of China and U.S. Securities and
Exchange Commission.
The Rosen Law Firm is preparing a lawsuit on behalf of
convertible bondholders as a result of this adverse information. If
you purchased NQ convertible senior notes, you may visit the
website at http://rosenlegal.com to join the action. You may also
contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm has demonstrated experience representing
convertible bondholders against China-based issuers. The Rosen Law
Firm represents investors throughout the globe, concentrating its
practice in securities class actions and shareholder derivative
litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
Laurence Rosen, Esq.Phillip Kim, Esq.Kevin Chan, Esq.The Rosen
Law Firm P.A.275 Madison Avenue 34th FloorNew York, New York
10016Tel: 212-686-1060Toll Free: 1-866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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