NEW YORK, June 19, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of
The investigation concerns whether China Mobile Games and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 19, 2014, shares of China Mobile Games fell sharply, after the company reportedly terminated a total of nine executives, including President Ying Shuling. The news was reported by Sina Tech, according to Bloomberg. These executives were allegedly involved in "bribery with game developers."
On this news, shares of China Mobile Games fell $4.25 per share to $14.65, or more than 22.47%, in intraday trading on June 19, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego 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.
Robert S. Willoughby
SOURCE Pomerantz LLP