Sunday, November 3, 2013

NQ Mobile uses another company's office - suspicious

NQ Mobile uses another company's office - suspicious

NQ Mobile Inc. (NQ), ensnared in allegations of fraud, employs a company that has 15 workers sitting in the corner of a suburban Beijing office registered in the name of another business.
Whether that arrangement contributed to “massive fraud,” as research firm Muddy Waters LLC has asserted, or simply illustrates the local idiosyncrasies of young tech companies doing business in China is at the heart of a dispute that has tanked the fast-growing maker of mobile-phone security software. The stock fell 62 percent in the three days after the fraud allegations emerged last month and were down 44 percent through Nov. 1.

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