|[December 10, 2013]
Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against NQ Mobile Inc.
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP announces that all purchasers of the
securities of NQ
Mobile Inc. ("NQ Mobile (News - Alert)" or the "Company") (NYSE:NQ) between May 5,
2011 and October 24, 2013, inclusive (the "Class Period"), have until
December 27, 2013, to file a motion to be appointed as lead plaintiff in
the shareholder lawsuit filed in the United States District Court for
the Southern District of New York.
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM
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. The Complaint alleges that the
defendants misrepresented and failed to disclose material facts
concerning NQ Mobile's business, operations and financial performance.
On October 24, 2013, Muddy Waters Research Group issued a report
alleging 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 have any questions concerning this Notice 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 to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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