LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, reminds investors (the “Class”) who purchased or otherwise acquired iDreamSky Technology Limited (“iDreamSky” or “Company”) (NASDAQ: DSKY) American Depositary Shares (“ADSs”): (1) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about August 7, 2014; and/or (2) on the open market between August 8, 2014 and March 13, 2015, inclusive, that they have until June 1, 2015 to seek appointment as a a lead plaintiff.
On March 13, 2015, after the market closed, the Company lowered its revenue guidance for the fourth quarter of 2014 to be between USD $52.7 million and $53.0 million, as compared to the previously announced revenue guidance of between $62.9 million and $66.1 million. According to the Company, the revised guidance reflected the delay of a popular game, launched on one of the Company distribution platforms, and lower than expected revenues from another game being launched simultaneously as other hit games on the same distribution platform. On this news, ADS of iDreamSky declined $3.60 per share, over 33%, during to close on March 16, 2015 at $7.22 per share, on unusually heavy volume.
If you are a member of the Class described above, you may move the Court no later than June 1, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, 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.
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