|[October 25, 2013]
Glancy Binkow & Goldberg LLP Announces Investigation of NQ Mobile Inc.
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of investors of NQ
Mobile Inc. ("NQ Mobile (News - Alert)" or the "Company") (NYSE:NQ) concerning
possible violations of federal securities laws. The investigation is
related to certain statements issued by NQ Mobile concerning the
Company's operations and financial performance and prospects.
Please contact us at 212-682-5340, Toll-Free at 888-773-9224, or at firstname.lastname@example.org
to discuss this matter. If you inquire by email please include your
mailing address, telephone number and number of shares purchased.
NQ Mobile is a Beijing, China-based provider of mobile Internet
services, including mobile security, privacy, productivity, personalized
cloud and family protection. The investigation is related to allegations
published by Mudy 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, 2013, 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 Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at
888-773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at 212-682-5340, by e-mail
or visit our website at http://www.glancylaw.com.
If you inquire by email, please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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