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.

On April 13, 2020, the Court ordered the case administratively closed pending the service of Defendants. Lead Plaintiff was instructed to notify the Court when service of the Defendants had been effectuated.

On November 21, 2022, Lead Plaintiff voluntarily dismissed the case.