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Stock Market & Financial Investment News

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July 6, 2014
21:03 EDTNQNQ Mobile has likely already decided to fire PwC, Muddy Waters says
NQ Mobile has likely already decided to fire its auditor PwC, Muddy Waters says in a new report on the company. The short selling research firm added, "We believe NQs misleading statement that PwC wants to expand the scope of the audit, and that the board is reviewing the request, is merely to create a pretext for NQ to change auditors...While the long-term game for NQ is to avoid becoming another tombstone in the graveyard of China frauds, we expect that insiders will continue to make more acquisitions in order to drain the company of value." Reference Link
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