NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces the commencement of an investigation of NQ Mobile Inc. (NYSE: NQ) concerning possible violations of federal securities laws.
On February 6, 2018, a report was published on SeekingAlpha alleging that, after having reviewed Chinese corporate records, the author believed that “insiders control Tongfang Investment Fund, the firm that recently acquired NQ’s mobile gaming and video businesses” and that the author doubted “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.” Following this news, shares of NQ fell 43.6% to close at $1.68 per share on February 6, 2018.
If you suffered a loss in NQ and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kkclasslaw.com/NQ-Info-Request-Form-262.
Joseph Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.