SAN DIEGO and GUANGZHOU, China, Sept. 17, 2014 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins Arroyo LLP is investigating potential violations of federal securities laws on behalf of investors of Sungy Mobile Limited. Sungy provides mobile internet products and services, focusing on application and mobile platform development.
View this information on the law firm's Shareholder Rights Blog:
www.robbinsarroyo.com/shareholders-rights-blog/sungy-mobile-limited
Sungy Shares Fall on News of Disappointing Second Quarter Earnings and Third Quarter Foreshadowing
Shares of Sungy fell more than 18%, to close at $8.44 on August 28, 2014, after the company announced disappointing second quarter earnings of RMB0.58 per share. In addition to missing the Capital IQ Consensus Estimate by RMB0.26, the company also announced that it will be lowering its guidance for the third quarter to RMB90-95 million as opposed to the estimate of RMB116.66 million. Lastly, Sungy announced that as of August 31, 2014, Chief Financial Officer Winston Li had resigned due to personal reasons and a search has begun for a replacement.
Sungy Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo LLP
If you invested in Sungy and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: www.robbinsarroyo.com/shareholders-rights-blog/sungy-mobile-limited.
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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