LOS ANGELES, CA / ACCESSWIRE / February 7, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of NQ Mobile, Inc. ("NQ Mobile" or "the Company") (NYSE: NQ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
On February 6, 2018, a report was published by Rota Fortunae on the investment website SeekingAlpha.com stating, among other things, that "Chinese corporate records lead us to believe that insiders control Tongfang Investment Fund, the firm that recently acquired NQ's mobile gaming and video businesses." On this news, shares of NQ Mobile fell sharply over 40% during intra-day trading.
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Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
SOURCE: The Schall Law Firm