LOS ANGELES, CA / ACCESSSWIRE / March 7, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against NQ Mobile, Inc.("the Company") (NYSE: NQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between March 30, 2017, and February 6, 2018, inclusive (the "Class Period"), are encouraged to contact the firm before April 11, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964 to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose: (1) NQ Mobile related party transactions involving the Transaction between NQ Mobile and Tongfang; (2) due to the related parties involved in the Transaction, NQ Mobile agreed to consider in the form of a note with a high likelihood of default; (3) Defendant Shi's interest in the Transaction was not fully disclosed; and (4) as a result, Defendants' statements about NQ Mobile's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the truth was revealed to the investing public, shares dropped causing shareholders harm.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com
SOURCE: The Schall Law Firm
