Cheetah Mobile Inc. shares fell over 16% after the company confirmed that its apps were banned from the Google Play Store, Google AdMob and Google AdManager. Gibbs Law Group is investigating a potential Cheetah Mobile Stock Class Action Lawsuit on behalf of investors who lost money in Cheetah Mobile Inc. (NYSE: CMCM).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On February 21, 2020, Cheetah Mobile stock dropped after the company confirmed that its apps had been banned from the Google Play Store, Google AdMob, and Google AdManager. In the first three quarters of 2019, 22.6% of Cheetah Mobile’s revenue purportedly came from its contracts with Google.
Cheetah Mobile previously had two of its apps removed in 2018 from the Google Play store after an investigation by Buzzfeed alleged it had been engaging in ad fraud.
While Cheetah Mobile says it is in “continuous communication with Google to appeal the decision,” the company has also said it may adopt . . . requisite remedial measures in response to Googles claim that Cheetah Mobile apps have been noncompliant with Google policies.
On this news, Cheetah Mobiles stocks dropped over 16% in one day, causing significant harm to investors.
What Should Cheetah Mobile Investors Do?
If you invested in Cheetah Mobile, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Cheetah Mobile Inc. has violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the worlds largest corporations, and our attorneys have received numerous honors for their work, including Best Lawyers in America, Top Plaintiff Lawyers in California, California Lawyer Attorney of the Year, Top Class Action Attorneys Under 40, Consumer Protection MVP, and Top Cybersecurity/ Privacy Attorneys Under 40.
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CONTACT: EILEEN EPSTEIN
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