INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In iDreamSky Corporation To Contact The Firm - DSKY

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Apr 06, 2015, 12:55 ET

NEW YORK, April 6, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in iDreamSky Technology Limited ("iDreamSky" or the "Company") (NasdaqGS: DSKY) of the June 1, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against iDreamSky and certain executives.

A complaint has been filed in the Southern District of New York on behalf of all persons who purchased iDreamSky common stock pursuant and/or traceable to the Company's Registration Statement and Prospectus, declared effective by the Securities and Exchange Commission on August 7, 2014, issued in connection with iDreamSky's initial public offering ("IPO"), and/or anyone who purchased iDreamSky ADSs from August 8, 2014 through March 13, 2015 (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that the Company made false and misleading statements and failed to disclose that iDreamSky had overstated its ability to monetize its user base and effectively integrate its distribution channels.

On March 13, 2015, the Company lowered its revenue guidance for the fourth quarter to be between $52.7 million and $53 million, much lower than its previously announced guidance of between $62.9 million and $66.1 million.

Following this news, the price of the Company's stock declined over 33% to close at $7.22 per share on March 16, 2015.

Request more information now by clicking here: www.faruqilaw.com/DSKY. There is no cost or obligation to you.

Take Action

If you invested in iDreamSky stock or options pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with iDreamSky's IPO, and/or ADSs during the Class Period and would like to discuss your legal rights, visit www.faruqilaw.com/DSKY. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding iDreamSky's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

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