LOS ANGELES–(BUSINESS WIRE)–$GLUU—Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Glu Mobile Inc. (“Glu Mobile” or the “Company”) (NASDAQ: GLUU) investors concerning the Company and its officers’ possible violations of federal securities laws.
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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 $2.77 per share, or 36.5%, to close at $4.82 per share on August 2, 2019, thereby injuring investors.
If you purchased Glu Mobile securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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