Levi & Korsinsky, LLP announces that a CMCM class action lawsuit has been filed on behalf of investors who purchased Cheetah Mobile Inc. (CMCM) securities between April 21, 2015 and November 27, 2018. For more on the CMCM Lawsuit please contact us today.
According to the Cheetah Mobile Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(i) Cheetah’s apps had undisclosed embedded features which tracked when users downloaded new apps; (ii) Cheetah used this data to inappropriately claim credit for having caused the downloads; (iii) the foregoing features, when discovered, would foreseeably subject the Company’s apps to removal from the Google Play store; (iv) accordingly, Cheetah’s Class Period revenues were in part the product of improper conduct and thus unsustainable; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Cheetah Mobile Inc. you have until January 29, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.