NQ Mobile Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of Fiduciary Du...
02 11월 2013 - 3:10AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed against NQ Mobile, Inc.
(“NQ Mobile” or “Company”) (NYSE: NQ). The firms are investigating
additional legal claims against the officers and Board of Directors
of NQ Mobile during the period of May 5, 2011 and October 24, 2013
(the “Class Period”).
If you are an affected investor and you want to learn more about
the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor
LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.
In a recently filed federal class action complaint, NQ Mobile
and certain of its officers and directors were charged with
violating certain provisions of the Securities Exchange Act of
1934. Specifically, the complaint alleges that among other things,
defendants misrepresented and/or failed to disclose that: (i) NQ
Mobile exaggerated its presence and market share in China as well
as the size of its paying user base; (ii) NQ Mobile’s antivirus
program, Antivirus 7.0, was actually a spyware program that left
users’ devices open for attack; (iii) NQ Mobile’s revenue and
reported cash balances were materially inflated at all relevant
times; (iv) NQ Mobile’s revenue and financial guidance issued
during the Class Period lacked a reasonable basis when made; (v) NQ
Mobile’s financial statements violated Generally Accepted
Accounting Principles (“GAAP”) and were materially false and
misleading at all relevant times; and (vi) as a result of the
foregoing, statements regarding NQ Mobile’s financial performance
and expected earnings were false and misleading and lacked a
reasonable basis when made. According to the complaint, when the
truth was revealed to the public, NQ Mobile’s stock dropped
dramatically.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor
LLPZachary Groover, 877-728-9607shareholder@powerstaylor.com
Nuveen New York Investment Quality Municipal Fund, Inc. (NYSE:NQN)
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