BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of MOL Global, Inc. (“MOL Global” or the “Company”) (NASDAQ:MOLG) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning MOL Global’s operations and financial performance. MOL Global provides e-payment solutions for online goods and services in Southeast Asia.
The investigation is related to MOL Global’s November 20, 2014, announcement that the Company has rescheduled the date it plans to release its third quarter 2014 financial results to December 3, 2014, before the market opens. In addition, MOL Global announced that the Group Chief Financial Officer of the Company, who joined MOL Global in August 2014, has tendered his resignation, effective immediately, “due to personal reasons.”
According to the Company, the CFO of one of MOL Global’s business segments will be assuming the role of Chief Financial Officer for MOL Global, Inc. The Company is making the management change approximately one month after its October 2014 initial public offering. Following this news, in intraday trading on November 21, 2014, shares of the Company’s stock dropped approximately 40% below the previous closing price.
If you purchased MOL Global shares, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.