Oberweis reiterates support

[saveferris4321]

Hadn't seen this reaction until just a second ago. Thought I'd share:

“Hopefully it’s an indication that this has primarily been a manipulated campaign to smear mud at NQ,” Jim Oberweis, president of Oberweis Asset Management, which holds shares in NQ Mobile, said in a phone interview from Lisle, Illinois. “It takes a long time to defeat those types of campaigns, but this is a great first step. We’ll continue to hold our investment in NQ.”

Full article:  http://www.bloomberg.com/news/2014-06-04/nq-mobile-surges-after-committee-says-no-alleged-fraudund.html

[ArtM72]

I'm sort of surprised Oberweis held. Lots of pressure for a fund to dump its position on such a price fall, warranted or not. It would be good if Oberweis were to address issues of short selling, public misinformation regarding securities etc. in his US Senate campaign this fall.

[StrongHand]

I'm sort of surprised Oberweis held. Lots of pressure for a fund to dump its position on such a price fall, warranted or not. It would be good if Oberweis were to address issues of short selling, public misinformation regarding securities etc. in his US Senate campaign this fall.

Oberweis has dumped 1/3 of NQ shares as of 3/31. But they still hold a large position.

http://www.nasdaq.com/symbol/nq/institutional-holdings

[thecrazykevy]

I'm sort of surprised Oberweis held. Lots of pressure for a fund to dump its position on such a price fall, warranted or not. It would be good if Oberweis were to address issues of short selling, public misinformation regarding securities etc. in his US Senate campaign this fall.

I think that quote is from Jim W Oberweis, the son who is now president of Oberweis Asset Management and not to be confused with his father, James "Jim" Oberweis who is the Illinois State Senator and the founder of Oberweis Asset Management. Also his other son Joe Oberweis took over the other part of the family business, the dairy company.