IMPORTANT INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Cheetah Mobile Inc. & E...
December 03 2018 - 12:36PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against
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.
Investors who purchased the Company's shares between April 26,
2017 and November 27, 2018, inclusive (the ''Class Period''), are
encouraged to contact the firm before January 29, 2019.
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.
According to the Complaint, the Company made false and
misleading statements to the market. Cheetah Mobile’s apps were
built with a feature to track new apps downloaded by consumers
without their knowledge. The Company improperly claimed credit for
the consumer’s decision to download other apps based on the data it
gathered. This fraudulent behavior was likely to get Cheetah Mobile
apps removed from the Google Play store. Cheetah Mobile’s revenue
during the class period was in part based on this fraudulent
activity and therefore unsustainable. Based on these facts, the
Company’s public statements throughout the class period were false
and materially misleading. When the market learned the truth about
Cheetah Mobile, investors suffered damages.
Join the case to recover your losses.
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/20181203005789/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.com310-301-3335info@schallfirm.com
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