|[October 24, 2013]
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of NQ Mobile Inc.
BENSALEM, Pa. --(Business Wire)--
Law Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of NQ Mobile (News - Alert) Inc. ("NQ Mobile"
or the "Company") (NYSE:NQ) concerning possible violations of federal
securities laws. The investigation focuses on certain statements issued
by NQ Mobile concerning the Company's operations and financial
performance and prospects.
Beijing, China-based NQ Mobile provides mobile Internet services,
including mobile security, privacy, productivity, personalized cloud and
family protection. The investigation is related to allegations published
by Muddy Waters, LLC that NQ Mobile has exaggerated its market share and
financial performance and prospects and misrepresented the efficacy of
its products. In a report dated October 24, 201, Muddy Waters alleges
that, among other things:
At least 72% of NQ's purported China security revenue is fictitious
and the Company's largest customer is actually NQ Mobile.
NQ Mobile's actual market share in China is about 1.5%, rather than
the approximately 55% it purports, and its paying China user base is
less than 250,000, rather than the approximately six million it
NQ Mobile's Antivirus 7.0 is unsafe for sale to consumers, and creates
serious vulnerabilities, making users' phones prone to data compromise
and cyber attack.
If you purchased NQ Mobile securities, if you have information or would
like to learn more about these claims, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
[ Back To Technology News's Homepage ]