March 17, 2015 (Shareholders Foundation) - An investigation on behalf of investors of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) shares over potential securities laws violations by iDreamSky Technology and certain of its directors and officers in connection certain financial statements was announced.

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

iDreamSky Technology Ltd reported that its annual Total Revenue rose from $19.38 million in 2012 to $246.57 million in 2013 and that its Net Loss of $9.29 million in 2012 turned into a Net Income of $28.13 million in 2013.

In August 2014 iDreamSky Technology Ltd went public. Shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) grew to as high as $23.66 per share in early September 2014.

OnMarch 13, 2015, iDreamSky Technology Ltd announced a revision its previously issued revenue guidance for the fourth quarter of 2014. iDreamSky Technology Ltd lowered its revenue guidance for the fourth quarter of 2014 to be betweenRMB327.0 million (US $52.7 million) and RMB329.0 million (US $53.0 million), as compared to the previously announced revenue guidance of between RMB390.0 million (US $62.9 million) and RMB410.0 million (US$66.1 million).

Shares of iDreamSky Technology Ltd (ADR) (NASDAQ:DSKY) declined to $6.67 per share on March 17, 2015.