NQ Mobile chief has defences up
As Omar Khan helped whip up 1,500 guests and employees gathered in a Beijing ballroom for NQ Mobile's eighth birthday bash last week, the co-chief executive himself had little to celebrate.
As Omar Khan helped whip up 1,500 guests and employees gathered in a Beijing ballroom for NQ Mobile's eighth birthday bash last week, the co-chief executive himself had little to celebrate.
A day earlier, NQ Mobile, the maker of security software to thwart mobile-phone hackers, was accused by a research firm of inflating revenue, triggering a 47 per cent stock plunge.
The "Never Quit" emblazoned on workers' purple shirts was no longer just a sales slogan: it could be read as a reminder for Khan to dig in and defend his company.
"All of the allegations are false," Khan said as he stepped off the stage.
His challenge now is to respond to the October 24 report by research firm Muddy Waters. He will be drawing on sales skills he honed as a young executive building Samsung's Galaxy smartphone brand at trade shows.
He will be matched against Muddy Waters founder Carson Block, who gained fame after regulators halted trading in four of the first five companies the short seller targeted with his research.
If Muddy Waters is totally right, there’s no way Omar will weather it