EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Sungy Mobile Limited
12 Septiembre 2014 - 10:32AM
Business Wire
The Rosen Law Firm announces that it is investigating potential
securities claims against Sungy Mobile Limited (NASDAQ: GOMO)
resulting from allegations that the Company may have issued
materially misleading business information to the investing
public.
Sungy is a leading provider of mobile internet products and
services in the People’s Republic of China and internationally with
a focus on applications and mobile platform development. In
November, 2013, the Company conducted its initial public offering
(“IPO”). On August 27, 2014, less than a year after its IPO, the
Company announced the resignation of its Chief Financial Officer,
Winston Li, due to personal reasons. This announcement coincided
with the release of disappointing financial results. The Company
reported earnings for the second quarter of 2014 that missed Wall
Street estimates by RMB 0.26 per share and issued downside guidance
for the third quarter of 2014 that fell below Wall Street
expectations. On this news, shares of Sungy fell $1.96 per share or
over 18% to a closing price of $8.44 per share on August 28, 2014,
damaging investors.
The Rosen Law Firm is preparing a class action lawsuit as a
result of this adverse information. If you purchased or acquired
Sungy securities on or before August 27, 2014 and would like to
recover your losses, please visit the website at
http://www.rosenlegal.com/cases-356.html for more information. You
may also contact Phillip Kim, Esq. or Kevin Chan, Esq., or of The
Rosen Law Firm toll free at 866-767-3653 or via e-mail at
pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, New
York 10016Tel: 212-686-1060Weekend Tel: 917-562-8616Toll Free:
1-866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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