Law Offices of Howard G. Smith Announces Class Action Lawsuit Against NQ Mobile Inc.

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of NQ Mobile Inc. (“NQ Mobile” or the “Company”) (NYSE:NQ) between May 5, 2011 and October 24, 2013, inclusive (the “Class Period”).

NQ Mobile is a Beijing, China-based provider of mobile Internet services, including mobile security, privacy, productivity, personalized cloud and family protection. The Complaint alleges that the defendants issued false and/or misleading statements and failed to disclose material facts concerning NQ Mobile’s business, operations and financial performance. On October 24, 2013, Muddy Waters Research Group issued a report alleging that, among other things:

• At least 72% of NQ’s purported China security revenue is fictitious and the Company’s largest customer is actually NQ Mobile.
• NQ Mobile’s actual market share in China is about 1.5%, rather than the approximately 55% it purports, and its paying China user base is less than 250,000, rather than the approximately six million it purports.
• NQ Mobile’s Antivirus 7.0 is unsafe for sale to consumers, and creates serious vulnerabilities, making users’ phones prone to data compromise and cyber attack.

If you are a member of the Class described above you may move the Court no later than December 27, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. SmithHoward G. Smith, Esquire(215) 638-4847(888) [e-mail]