Glu Mobile Inc. (GLUU) IPO Lawsuit
Keywords: Glu Mobile | Lawyer | IPO | Lawsuit | Stock | Shareholder | Attorney | Fraud
In conjunction with our partner lawyers, we are currently investigating claims for Glu Mobile Inc. shareholders who purchased shares of Glu Mobile Inc. and lost money on their investment as a result of the Company's recent announcements.
Our investigation revolves around whether Glu Mobile Inc., certain of its officers and directors, and the Company's underwriters included, or allowed the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the Company's IPO, in violation of the Securities Act of 1933. Recent corrective disclosures have caused the price of shares of Glu Mobile Inc. to fall precipitously.
Our Experienced Stock Fraud Lawyers and Attorneys Have Years of Experience Representing Shareholders in Numerous IPO Lawsuits.
Glue Mobile Inc. was formerly known as Sorrent, and was backed by venture capital firms including BA Venture Partners, Sienna Ventures and Time Warner. It publishes of mobile games such as Deer Hunter, Diner Dash, Monopoly, Sonic the Hedgehog and World Series of Poker.
In December 2006, Glu Mobile Inc. filed for an IPO with the Securities and Exchange Commission. Glu Mobile Inc. planned to offer 7.3 million shares, and the planned IPO was expected to raise up to $92 million. The Glu Mobile Inc. IPO was underwritten by Goldman Sachs and Lehman Brothers.
When Glu Mobile launched its IPO in March 2007, the stock traded at a price of $11.50 a share. By February 2008, it was trading at less than half that price. Analysts now expect Glu Mobile Inc. to post losses through all of 2008.
If you purchased stock during Glu Mobile Inc.'s IPO and have suffered a financial loss, you have valuable legal rights. Please contact us at 1-800-LAW INFO (1-800-529-4636) for a free consultation with one of our experienced stock fraud lawyers today.