SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

November 26, 2014 16:44 ET

INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in MOL Global, Inc. (MOLG) to Contact the Firm

NEW YORK, NY--(Marketwired - November 26, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in MOL Global, Inc. ("MOL Global" or the "Company") (NASDAQ: MOLG) of the January 23, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against MOL Global, certain executives and the underwriters of the Company's October 9, 2014 initial public offering ("IPO").

A complaint has been filed in the Southern District of New York on behalf of all persons who purchased or otherwise acquired MOL Global American Depository Shares ("ADSs") from October 9, 2014 through November 20, 2014, inclusive (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that during the Class Period, MOL Global made false and/or misleading statements and/or failed to disclose that: (i) MOL Global had overstated its revenue and profit; (ii) the Company's actual business model could not sustain the growth trends as dipicted in the offering documents of the IPO; and (iii) MOL Global was not in a position to report third quarter 2014 financial results on November 21, 2014, as previously announced.

On November 21, 2014, MOL Global announced that the Company had rescheduled the release of its third quarter 2014 financial results and that the Company's Chief Financial Officer had resigned.

On this news, shares of MOL Global fell by over $4.77 per share, or more than 53%, on November 21, 2014 to close at $4.09.

Request more information now by clicking here: www.faruqilaw.com/MOLG. There is no cost or obligation to you.

Take Action

If you invested in MOL Global ADSs or options in connection with the Company's IPO and would like to discuss your legal rights, visit www.faruqilaw.com/MOLG. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding MOL Global's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    rgonnello@faruqilaw.com
    Telephone: (877) 247-4292 or (212) 983-9330