NQ Mobile Being Investigated By The SEC

A letter turning down a Freedom of Information Act (FOIA) request for the Security and Exchange Commission’s (SEC) investigative records into NQ Mobile Inc (ADR) (NYSE:NQ) gave the reason that “staff responsible for this matter have confirmed that releasing the withheld information could reasonably be expected to interfere with an on-going enforcement proceeding,” which is still an important confirmation in and of itself. NQ Mobile is roughly flat in trading today, as most investors must have expected that the SEC was looking into allegations against the company. SEC investigation not surprising all things considered NQ Mobile Inc (ADR) (NYSE:NQ)’s troubles…