Block & Leviton LLP Announces An Investigation Of MOL Global, Inc. Over Potential Violations Of The Federal Securities Laws After Its CFO Resigns

BOSTON, Nov. 24, 2014 /PRNewswire/ -- Block & Leviton LLP has launched an investigation into MOL Global, Inc. ("MOL" or the "Company") (NASDAQ:  MOLG), a Kuala Lumpur, Malaysia based electronic payment company.  This investigation followed the news that the Company's Chief Financial Officer ("CFO") Allan Wong had resigned, to be replaced by Jonathan Yoon Soon Chong.  Mr. Chong is currently the CFO for a subsidiary of MOL.  In conjunction with the news of Mr. Wong's resignation, the MOL also announced that its third quarter earnings release would be delayed until December 3, 2014.

As the stock market absorbed this news, shares of MOL plummeted.  It dropped from a closing price of $8.86 on November 20, 2014, to close at $4.09 on November 21, 2014.  This 54% drop resulted in a loss of market capitalization of over $320 million.  The Company traded as low as $3.99 per share, representing MOL's 52 week and all time low, and traded at its highest volume since its initial public offering on October 9, 2014.  MOL is planning a conference call on December 3, 2014, to discuss the earnings and Mr. Wong's resignation.

If you have questions about your legal rights or have information relevant to this investigation, please contact attorney Steven P. Harte of Block & Leviton LLP, www.blockesq.com, at (617) 398-5600 or at [email protected].  Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.

This notice may constitute attorney advertising. 

Contact:         
BLOCK & LEVITON LLP
Steven P. Harte
(617) 398-5600
[email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/block--leviton-llp-announces-an-investigation-of-mol-global-inc-over-potential-violations-of-the-federal-securities-laws-after-its-cfo-resigns-300000050.html

SOURCE Block & Leviton LLP

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