Sungy Mobile Limited
Robbins Arroyo LLP: Sungy Mobile Limited (GOMO) Stock Drops 18% After Company Announces Earnings
Robbins Arroyo LLP is investigating potential violations of federal securities laws on behalf of investors of Sungy Mobile Limited (NasdaqGM: GOMO). Sungy provides mobile internet products and services, focusing on application and mobile platform development.
Sungy Shares Fall on News of Disappointing Second Quarter Earnings and Third Quarter Foreshadowing
Shares of Sungy fell more than 18%, to close at $8.44 on August 28, 2014, after the company announced disappointing second quarter earnings of RMB0.58 per share. In addition to missing the Capital IQ Consensus Estimate by RMB0.26, the company also announced that it will be lowering its guidance for the third quarter to RMB90-95 million as opposed to the estimate of RMB116.66 million. Lastly, Sungy announced that as of August 31, 2014, Chief Financial Officer Winston Li had resigned due to personal reasons and a search has begun for a replacement.
Sungy Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo LLP
If you invested in Sungy and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.