Eileen Epstein Carney
Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Cheetah Mobile Lawsuit Investigation
Google reportedly cancels Cheetah Mobile's accounts; Stock plummets 15% on expected revenue loss
On February 21, 2020, Cheetah Mobile announced that it had been informed by Google that its Google Play Store, Google AdMob, and Google AdManager accounts have been disabled, and its contracts with these accounts will be terminated. The company expects that this will adversely effect its ability to attract new users and generate revenue. On this news, Cheetah Mobile stock (NYSE: CMCM) dropped over 15%. Investors in Cheetah Mobile may have a claim.
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Cheetah Mobile Stock News: CMCM Stock Drops Over 15% on Cancelled Google Contracts
In a press release dated February 21, 2020, Cheetah Mobile announced that Google disabled its Google Play Store, Google AdMob, and Google AdManager accounts, and will terminate its associated contracts.
22.6% of Cheetah Mobile’s revenue in the first nine months of 2019 reportedly came from Google. This includes revenues from the company’s mobile advertising business, as well as the purchasing of virtual items by users via Google. According to the company, termination of the Google contracts may affect its ability to attract new users and generate revenue from Google.
According to the press release, Google made the decision to disable Cheetah Mobile’s accounts because some of the company’s apps were not compliant with Google’s policies. While the company hopes to appeal this decision, it stated,
…the appealing process could be time-consuming, and the Company cannot guarantee that its appeals will be successful.
On this news, Cheetah Mobile stock fell over 15%, significantly harming investors. If you invested in CMCM, you may have a claim.
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We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).