SAN DIEGO, Jan. 12, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of MOL Global Inc (MOLG) over alleged Federal Securities Laws Violations by MOL Global.
Investors who purchased a significant amount of shares of MOL Global Inc (Nasdaq:MOLG) between October 9, 2014 and November 20, 2014, have certain options and for certain investors are short and strict deadlines running. Deadline: January 23, 2015. Nasdaq: MOLG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between October 9, 2014 and November 20, 2014 Defendants made allegedly false and/or misleading statements and/or failed to disclose to MOL Global Inc investors that MOL Global Inc was overstating the revenue and profit derived from MOL Global Inc's business and operations, that MOL Global Inc's actual business model could not sustain the growth trends described in the Offering Documents, that MOL Global Inc would not be able to report its third quarter 2014 financial results on November 21, 2014, as previously stated, and that as a result of the foregoing, MOL Global Inc's financial statements were materially false and misleading at all relevant times.
On November 20, 2014, before the market opened, Deutsche Bank set a "buy" recommendation for MOL Global and a $12.00 price target on the stock. However, on November 20, 2014, after the market closed, MOL Global Inc announced "that the Company has rescheduled the date it plans to release its third quarter 2014 financial results to Wednesday, December 3, 2014 before market opens." The Company also announced after the CFO had abruptly resigned "for personal reasons." On November 21, 2014, just a day after issuing a "buy" recommendation, Deutsche Bank advised investor caution about shares in MOL Global Inc, describing MOL Global Inc's sudden announcement as "potentially ominous."
Shares of MOL Global Inc (Nasdaq:MOLG) declined from as high as $9.13 per share on November 20, 2014, to as low as $1.53 per share on December 1, 2014.
Those who purchased shares of MOL Global Inc (Nasdaq:MOLG) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.