An investigation on behalf of investors of Glu Mobile Inc. (NASDAQ: GLUU) shares over potential securities laws violations by Glu Mobile Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Glu Mobile Inc. (NASDAQ: GLUU) concerning whether a series of statements by Glu Mobile Inc. (NASDAQ: GLUU regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based Glu Mobile Inc. develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. On August 1, 2019, post-market, Glu Mobile sharply decreased its annual bookings guidance and annual forecast. Glu Mobiles Chief Financial Officer stated that the Company 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.

Shares of Glu Mobile Inc. (NASDAQ: GLUU) declined from $11.65 per share in April 2019 to as low as $$.31 per share on August 16, 2019.