Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
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 stockdropped over 15%. Investors in Cheetah Mobile may have a claim.
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.
Our Securities Lawyers Have a Winning Record Against Companies Like Cheetah Mobile
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
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Our Featured Securities Team
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.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
Gibbs Law Group's Financial Fraud Experience
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