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
Industry: Software & Programming
Ticker Symbol: NQ
Company Market: New York SE
Market Status: Public (Listed)
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