NEW ORLEANS, June 23, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 19, 2014 to file lead plaintiff applications in a securities class action lawsuit against China Mobile Games and Entertainment Group Limited (Nasdaq:CMGE), if they purchased the Company's securities during the period between September 20, 2012 and June 19, 2014, inclusive, including purchasers in the Company's public offering that closed on March 26, 2014 (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of China Mobile Games and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 19, 2014.
About the Lawsuit
China Mobile Games and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On June 19, 2014, it was reported that nine senior executives at China Mobile Games, including its president, were suspended due to alleged involvement in a bribery scheme within its game publishing business. Chinese internet news media reported that the misconduct also involved undisclosed related party transactions with the Company.
On this news, the price of the Company's shares plummeted by over 22%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.