Shareholders Foundation, Inc.

China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) Investor Alert: Investigation over Possible Violations of Securities Laws

An investigation for investors in China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) shares over potential securities laws violations by China Mobile Games & Entertainment Group was announced and NASDAQ:CMGE stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 06/23/2014 -- An investigation on behalf of investors of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) shares over potential securities laws violations by China Mobile Games & Entnmnt Grp and certain of its directors and officers in connection certain financial statements was announced.

If you purchased shares of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE), you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) concerning whether a series of statements by China Mobile Games & Entnmnt Grp Ltd regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China Mobile Games & Entnmnt Grp Ltd reported that its annual Total Revenue rose from $187.59 million in 2012 to $353.01 million in 2013 and that its Net Loss of $14.34 million in 2012 turned into a Net income of $26.26 million in 2013. Shares of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) grew from $3.45 per share in February 2013 to as high as $38.86 per share in Feburary 2014.

Then on June 19, 2014, a media report stated that nine senior executives at China Mobile Games & Entnmnt Grp Ltd, including its president, were suspended due to alleged involvement in a bribery scheme within its game publishing business.

Shares of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) dropped from $18.93 per share on June 18, 2014, to as low as $12.60 per share on June 20, 2014.

On June 20, 2014, NASDAQ:CMGE shares closed at $14.33 per share.

Those who purchased shares of China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com