BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith commences an investigation on behalf of NQ Mobile Inc. (“NQ” or the “Company”) (NYSE: NQ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On February 6, 2018, a report was published on the website Seeking Alpha entitled "NQ Mobile: Undisclosed Transfer Of Subsidiaries To Chairman Introduces Significant Risks - Price Target $0." Citing a review of Chinese corporate records, the report's author concluded that "insiders control Tongfang Investment Fund, the firm that recently acquired NQ's mobile gaming and video businesses" and stated that "[o]ur research leads us to doubt 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."
On this news, shares of NQ fell $1.30, or 43.6%, to close at $1.68 on February 6, 2018, thereby injuring investors.
If you purchased NQ securities, have information or 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 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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