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NQ Mobile
NQ, a
leading global provider of mobile Internet services, announced that the
Company's board of directors today formed an independent special committee to
conduct an independent review of the allegations raised in a report issued by
Muddy Waters dated October 24, 2013. The special committee is comprised of
four independent directors of the Company, Ms. Ying Han and Messrs. William
Tiewei Li, Xiuming Tao and Jun Zhang, with Ms. Han being the chairwoman of the
committee. The committee is authorized to retain independent advisors in
connection with its investigation.
As previously stated, NQ Mobile believes that the Muddy Waters report contains
numerous errors of fact, misleading speculations and malicious interpretations
of events. Nevertheless, in order to provide the highest level of transparency
to its shareholders, the board of directors of the Company has formed the
independent special committee to review the allegations, and management will
fully cooperate with the committee in the investigation.
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