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NQ Mobile

Case Summary

NQ Mobile Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 05/31/2018 (Ongoing date of last review)

Filing Date: February 10, 2018

NQ Mobile provides internet services in the People’s Republic of China (“PRC”) and internationally.

The Complaint alleges that Defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) NQ Mobile failed to disclose related party transactions involving the Transaction between NQ Mobile and Tongfang; (2) due to the related parties involved in the Transaction, NQ Mobile agreed to consideration in the form of a note with a high likelihood of default; (3) Defendant Shi’s interest in the Transaction was not fully disclosed; and (4) as a result, Defendants’ statements about NQ Mobile’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On May 31, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel.

Company & Securities Information

Defendant: NQ Mobile

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: NQ
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Shiqiang Chen, et al. v. NQ Mobile, et al.

COURT: E.D. Texas
DOCKET #: 18-CV-00096
JUDGE: Hon. Amos L. Mazzant, III
DATE FILED: 02/10/2018
CLASS PERIOD START: 03/30/2017
CLASS PERIOD END: 02/06/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Steckler Gresham Cochran PLLC
    12720 Hillcrest Rd, Suite 1045, Steckler Gresham Cochran PLLC, TX 75230
    (972) 387-4040 (972) 387-4041 ·
  2. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 02/10/2018
2 U.S. District Court Civil Docket 05/31/2018
3 Memorandum Opinion and Order 05/31/2018
 
 

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