| Company: | MOL Global, Inc |
| Ticker Symbol: | Nasdaq:MOLG |
| Class Period: | Oct-9-14 to Nov-20-14 |
| Date Filed: | Dec-9-14 |
| Lead Plaintiff Deadline: | Feb-7-15 |
| Court: | Southern District of New York |
| Allegations: | |
The complaint was filed on behalf of investors who purchased MOL Global securities between October 9, 2014 and November 20, 2014 (the "Class Period"). Any member of the Class who purchased shares in the relevant time period may ask the Court to appoint them as lead plaintiff.
Based in Malaysia, MOL provides e-payment solutions for online goods and services in Southeast Asia. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) MOLG was overstating the revenue and profit derived from its business and operations; (2) the Company's actual business model could not sustain the growth trends described in the Offering Documents; (3) MOLG would not be able to report its third quarter 2014 financial results on November 21, 2014, as previously stated; and (4) as a result of the foregoing, MOLG's financial statements were materially false and misleading at all relevant times.
On October 3, 2014, MOLG filed its amended Registration Statement for the IPO, which became effective on October 8, 2014. Then, on November 20, 2014 after the market closed and barely 40 days after the Company's IPO, MOLG announced plans to delay its Third Quarter earnings release from November 21 to December 3.
As a result of MOLG's announcement, on November 21, 2014, just a day after issuing a "buy" recommendation, Deutsche Bank advised investor caution about shares in MOLG, describing MOL's sudden delay as "potentially ominous."
On this news, shares of MOLG declined $4.77 per share, or almost 54%, to close at $4.09 per share on November 21, 2014.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
