NEW YORK, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of Glu Mobile Inc. (“Glu Mobile” or “the Company”) (NASDAQ: GLUU) concerning possible violations of federal securities laws.
On August 1, 2019, post-market, Glu Mobile drastically decreased its annual bookings guidance and annual forecast. The Company’s Chief Financial Officer stated that Glu Mobile 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 over 36%, to close at $4.82 per share on August 2, 2019. To obtain additional information, go to:
https://www.zlk.com/pslra-1/glu-mobile-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
