INVESTIGATION ALERT REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Cheetah Mobile Inc. & Encourag...
November 30 2018 - 1:17PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces that it is investigating claims on behalf of
investors of Cheetah Mobile Inc. (“Cheetah Mobile” or “the
Company”) (NYSE: CMCM) for violations of §§10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false
and/or misleading statements and/or failed to disclose information
pertinent to investors. Buzzfeed News reported on November 26,
2018, that Cheetah Mobile Apps have been exploiting user
permissions after being downloaded from the Google Play store, for
purposes of an ad fraud scheme. According to Buzzfeed, the
Company’s apps “tracked when users downloaded new apps and used
this data to inappropriately claim credit for having caused the
download.” Buzzfeed alleges that two Cheetah Mobile apps were
removed from Google Play after the article was released. Based on
this news, Cheetah Mobile’s share price fell more than 37% in the
next few trading sessions.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20181130005425/en/
The Schall Law FirmBrian Schall, Esq.Sherin Mahdavian,
Esq.310-301-3335info@schallfirm.comwww.schallfirm.com
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