Lead Plaintiff Deadline is April 11, 2018

NEW YORK, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP   announces that a federal securities class action lawsuit has been filed in the United States District Court  for  the  Eastern District of Texas against NQ Mobile, Inc. (NYSE:NQ) (“NQ” or the “Company”) on behalf of all shareholders who purchased shares from March 30, 2017 through February 6, 2018, inclusive (“Class Period”).

Investors who have incurred losses in shares of NW Mobile, Inc,   are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If   you have incurred  losses  in  the shares of  NW Mobile, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than April 11, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in NW Mobile, Inc.

According to the filed complaint, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that:

• NQ Mobile failed to disclose related party transactions involving the Transaction between NQ Mobile and Tongfang;
   
• 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;
   
• Defendant Shi’s interest in the Transaction was not fully disclosed; and
   
• 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 February 6, 2018, the shares of NQ Mobile, Inc. closed down 44%.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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