NEW YORK, NY / ACCESSWIRE / August 10, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Glu Mobile Inc. (“Glu Mobile” or the “Company”) (NASDAQ:GLUU). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Glu Mobile and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 1, 2019, post-market, Glu Mobile sharply decreased its annual bookings guidance and annual forecast. Glu Mobile’s Chief Financial Officer stated that the Company had revised its annual guidance “primarily to reflect the timing of new launches, contribution from newly launched titles and incremental UA investment to take advantage of favorable ROI opportunities.”
On this news, Glu Mobile’s stock price fell $2.77 per share, or 36.5%, to close at $4.82 per share on August 2, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP