We are investigating Glu Mobile Inc. (GLUU) (“Glu Mobile” or the “Company”) for potential violations of the federal securities laws.
On August 1, 2019, post-market, Glu Mobile sharply decreased its annual bookings guidance and annual forecast. Glu Mobile’s 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.” On this news, Glu Mobile’s stock price fell $2.77 per share, or 36.5%, to close at $4.82 per share on August 2, 2019.