NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Texas on behalf of all persons or entities who purchased or otherwise acquired NQ Mobile Inc. (NYSE: NQ) securities between March 30, 2017 and February 6, 2018 (the “Class Period”). Investors have until April 11, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On February 6, 2018, Seeking Alpha published an article entitled “NQ Mobile: Undisclosed Transfer Of Subsidiaries To Chairman Introduces Significant Risks - Price Target $0” in which Rota Fortunae asserted that Chinese corporate records lead them to believe that insiders control Tongfang Investment Fund, the firm that recently acquired NQ's mobile gaming and video businesses. The article further contended that NQ is likely to default when its convertible debt comes due in October 2018.
Following this news, shares of NQ fell $1.30, or over 43%, to close at $1.68 on February 6, 2018.
If you purchased or otherwise acquired NQ Mobile securities and suffered a loss, continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the NQ Mobile Inc. lawsuit, please go to http://www.bespc.com/nq. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.