EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Cheetah Mobile Inc. – CMCM
NEW YORK--(BUSINESS WIRE)--Nov 27, 2018--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Cheetah Mobile Inc. (NYSE:CMCM) resulting from allegations that Cheetah Mobile may have issued materially misleading business information to the investing public.
On November 26, 2018, BuzzFeed News reported that certain Cheetah Mobile apps found in the Google Play store have been exploiting user permissions as part of an ad fraud scheme. The BuzzFeed article stated that Cheetah Mobile’s apps “tracked when users downloaded new apps and used this data to inappropriately claim credit for having caused the download.” According to the article, two of Cheetah Mobile’s apps were removed from the Google Play store after publication of the BuzzFeed article. On this news, Cheetah Mobile’s stock fell $3.32 per share or nearly 37% over the next two trading days to close at $5.48 per share on November 27, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Cheetah Mobile investors. If you purchased shares of Cheetah Mobile please visit the firm’s website at https://www.rosenlegal.com/cases-1224.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34thFloor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: The Rosen Law Firm, P.A.
Copyright Business Wire 2018.
PUB: 11/27/2018 06:18 PM/DISC: 11/27/2018 06:18 PM