The Shareholders Foundation announces that an investor, who purchased shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by iDreamSky Technology Ltd in connection with certain allegedly false and misleading statements.
Investors who purchased a significant amount of shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2015. NASDAQ:DSKY investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of investors of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) who purchased or otherwise acquired iDreamSky American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about August 7, 2014 and/or on the open market between August 8, 2014 and March 13, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that iDreamSky Technology Ltd had overstated its ability to monetize its user base and effectively integrate its distribution channels, that, as a result, iDreamSky Technology Ltd had to lower its earnings guidance, and that, as a result of the foregoing, the Company’s statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
On March 13, 2015, iDreamSky Technology Ltd announced a revision its previously issued revenue guidance for the fourth quarter of 2014. iDreamSky Technology Ltd lowered its revenue guidance for the fourth quarter of 2014 to be betweenRMB327.0 million (US $52.7 million) and RMB329.0 million (US $53.0 million), as compared to the previously announced revenue guidance of between RMB390.0 million (US $62.9 million) and RMB410.0 million (US$66.1 million). Shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) declined to $6.67 per share on March 17, 2015.
On April 14, 2015, NASDAQ:DSKY shares closed at $8.63 per share.
Those who purchased shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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