NEW YORK –Levi & Korsinsky announces it has commenced an investigation of NQ Mobile Inc. (NYSE:NQ) concerning possible violations of federal securities laws.
On February 6, 2018, a report was published on SeekingAlpha.com alleging that, after having reviewed Chinese corporate records, the author believed that “insiders control Tongfang Investment Fund, the firm that recently acquired NQ’s mobile gaming and video businesses” and that the author doubted “every aspect of the transaction, including the cash payments and the $270 million note receivable, which together represents over 100% of NQ’s market cap.” Following this news, shares of NQ fell 43.6% to close at $1.68 per share on February 6, 2018. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.