January 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Qunar Cayman Islands Ltd (NASDAQ:QUNR) shares over potential securities laws violations by Qunar Cayman Islands 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 Qunar Cayman Islands Ltd (NASDAQ:QUNR) concerning whether a series of statements by Qunar Cayman Islands regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Qunar Cayman Islands Ltd reported that its annual Total Revenue rose from $130.16 million in 2013 to $268.72 million in 2014 while its Net Loss increased from $28.65 million in 2013 to $282.51 million in 2014.

On January 4, 2016, pre-market, Qunar Cayman Islands Ltd announced changes to its management and board of directors, effective as of January 4, 2016. Qunar Cayman Islands Ltd said that Qunar Cayman Islands' co-founder Chenchao 'CC' Zhuang will no longer serve as Qunar's director and chief executive officer, and Ms. Yilu Zhao will no longer serve as the company's chief financial officer. Qunar Cayman Islands Ltd said that Zhenyu Chen, Qunar's Executive Vice President and Head of Mobile Business Group, has been appointed as Qunar's chief executive officer; Qiang Zhang, Qunar's Executive Vice President and Head of Destination Services Business Group, will assume the role of its chief operating officer; and Mr. Xiaolu Zhu, Qunar's Senior Director of Strategy and Investor Relations, has been appointed as Qunar's chief financial officer.

Shares of Qunar Cayman Islands Ltd (NASDAQ:QUNR) declined from $55.92 per share on December 30, 2015 to as low as $36.27 per share on January 7, 2015.