NEW YORK, Jan. 4, 2016 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Qunar Cayman
Island Limited ("Qunar" or the "Company") (NASDAQ: QUNR).
Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 9980.
The investigation concerns whether Qunar and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On January 4, 2016, pre-market,
the company announced changes to its management and board of
directors, effective as of January 4,
2016. Qunar's co-founder Chenchao "CC" Zhuang will no
longer serve as Qunar's director and chief executive officer, and
Ms. Yilu Zhao will no longer serve
as the company's chief financial officer. Zhenyu Chen, Qunar's Executive Vice President
and Head of Mobile Business Group, has been appointed as Qunar's
chief executive officer; Qiang Zhang, Qunar's Executive Vice
President and Head of Destination Services Business Group, will
assume the role of its chief operating officer; and Mr.
Xiaolu Zhu, Qunar's Senior Director
of Strategy and Investor Relations, has been appointed as Qunar's
chief financial officer.
On this news, Qunar stock has fallen as much as $8.57, or 16.25%, to $44.17 during intra-day trading on January 4, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los
Angeles, and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP