INVESTOR ALERT: Class Action Lawsuit Against China Mobile Games & Entertainment Group Limited Announced by Law Offices of How...
15 Luglio 2014 - 2:32PM
Business Wire
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 all purchasers of the
American Depositary Shares of China Mobile Games and Entertainment
Group Limited (“China Mobile Games” or the “Company”) (NASDAQ:CMGE)
between September 20, 2012 and June 19, 2014, inclusive (the “Class
Period”).
China Mobile Games, through its subsidiaries, develops and
publishes social games and single-player mobile games primarily in
the People’s Republic of China. The Complaint alleges that
defendants issued false and/or misleading statements about China
Mobile Games’ business and operations, and failed to disclose
material adverse facts; specifically, (1) a bribery scheme within
the Company’s game publishing business; (2) undisclosed related
party transactions; and (3) that the Company’s internal controls
were inadequate.
On June 19, 2014, China Mobile Games disclosed that it had
suspended nine senior executives, including the Company’s
president. According to a report published by Bloomberg, nine
senior managers were suspended, including President Shuling Ying,
in connection with alleged involvement in “bribery with game
developers.”
If you are a member of the Class described above, you have until
August 19, 2014, to move the Court to serve as lead plaintiff, if
you 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 you wish to learn more about this action, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at 215-638-4847, Toll-Free at 888-638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.com
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