NQ Mobile Inc (ADR) (NYSE:NQ) American depositary shares gained Wednesday, after the provider of mobile-Internet services said NQ Mobile managers are restricted by a trading blackout that prevents them from buying the company’s American depositary receipts since shortly after initial allegations were published by Muddy Waters in late October.

“Because of those restrictions, senior managers have not been, so far, able to deliver on their promise” to buy $3 million of ADRs, the statement said. “However, they remain fully committed to doing so as soon as legally possible.” The statement was in response to a July 6 report by Muddy Waters, an investment research firm and short seller, that alleged NQ Mobile delayed disclosure of board changes so that “insiders and their proxies could illegally dump more shares at existing shareholders’ expense.”

NQ Mobile on July 3 said Ying Han was resigning as chairperson of the company’s audit committee. The company’s ADRs plunged as much as 37% after the announcement. NQ Mobile also repeated that an independent investigation into its accounting practices didn’t find evidence of fraud. “The company has disclosed material information in a timely manner and in compliance with Securities and Exchange Commission regulations,” NQ Mobile said. NQ Mobile gained 10% to $4.57 in recent trading shortly after the open. It reached an all-time low of $4.12 during regular trading Tuesday.