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Pomerantz legislation agency proclaims submitting a category motion lawsuit towards Cheetah Cell, Inc. and sure senior executives – CMCM – Yahoo Finance

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW YORKAugust 4, 2020 / PRNewswire / – Pomerantz LLP Announces A Class Action Lawsuit Against Cheetah Mobile, Inc. ("Cheetah Mobile" or the "Company") (NASDAQ: CMCM) and some of its officers. The class action lawsuit filed in United States District Court for the Central District of Californiaand indexed at 20-cv-06896, is on behalf of a class consisting of all individuals and organizations other than defendants who have bought or otherwise purchased Cheetah Mobile securities between them March 25, 2019, and February 20, 2020including (the "class period"). The plaintiff pursues claims against the defendants under the Securities Exchange Act of 1934 (the "Exchange Act"). "Data reactid =" 12 ">NEW YORKAugust 4, 2020 / PRNewswire / – Pomerantz LLP Announces A Class Action Lawsuit Against Cheetah Mobile, Inc. ("Cheetah Mobile" or the "Company") (NASDAQ: CMCM) and some of its officers. The class action lawsuit filed in United States District Court for the Central District of Californiaand indexed at 20-cv-06896, is on behalf of a class consisting of all individuals and organizations other than defendants who have bought or otherwise purchased Cheetah Mobile securities between them March 25, 2019, and February 20, 2020including (the "class period"). The plaintiff pursues claims against the defendants under the Securities Exchange Act of 1934 (the "Exchange Act").

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are a shareholder who bought Cheetah Mobile securities During the lesson you have until August 25, 2020to ask the court to appoint you as the primary plaintiff for the class. You can get a copy of the complaint at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at the newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 7980. Those who inquire via email are asked to provide their mailing address, phone number, and number of shares purchased. "data-reactid =" 13 "> If you are a shareholder who bought Cheetah Mobile Securities during the class, you have until August 25, 2020to ask the court to appoint you as the primary plaintiff for the class. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, ext. 7980. Those who inquire via email are asked to provide their postal address, telephone number, and the number of shares purchased.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Click here for information on participating in the class action lawsuit.)"data-reactid =" 14 "> (Click here for information on joining the class action lawsuit.)

Cheetah Mobile is a mobile internet company that offers mobile support products (such as Clean Master and Cheetah Keyboard), casual games (such as Piano Tiles 2, Bricks n Balls) and the live streaming product Live.me. The company offers direct access to targeted mobile users and global advertising channels to its advertisers, which include direct advertisers and mobile ad networks through which advertisers advertise.

The complaint alleges that the defendants made materially incorrect and misleading statements about the company's business, operational, and compliance policies throughout the teaching period. In particular, the defendants did not notify investors that: (i) certain Cheetah Mobile apps did not meet the terms of the agreements with Google; (ii) As a result, there was a reasonable likelihood that Google would terminate its advertising contracts with the company. (iii) as a result of the foregoing, the company's ability to attract new users would be adversely affected; (iv) As a result, the company's revenue was reasonably likely to decrease. and (v) as a result of the foregoing, the defendant's positive statements regarding the business, operations and prospects of the company were materially misleading and / or lacking a reasonable basis.

<p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On February 21, 2020Before the market opened, the company announced that its accounts for Google Play Store, Google AdMob and Google AdManager were deactivated February 20, 2020 "Because some of the company’s apps didn’t comply with Google’s policies, resulting in certain invalid traffic." "data-reactid =" 21 "> On February 21, 2020Before the market opened, the company announced that its accounts for Google Play Store, Google AdMob and Google AdManager were deactivated February 20, 2020 "Because some of the company's apps didn’t comply with Google’s policies, which resulted in certain invalid traffic."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In this news, the company's share price fell $ 0.61 per share or close to 17% $ 2.99 per share on February 21, 2020with an unusually high trading volume. "data-reactid =" 22 "> In this news, the company's share price fell $ 0.61 per share or close to 17% $ 2.99 per share on February 21, 2020with an unusually high trading volume.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company Pomerantz with offices in new York, Chicago, los Angeles, and Paris, is recognized as one of the leading companies in corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzThe Pomerantz company, known as the dean of the class action lawsuit, was a pioneer in the field of class action lawsuits for securities. Today, more than 80 years later, the Pomerantz company continues its tradition and fights for the rights of victims of securities fraud, breaches of trust and misconduct by companies. The company has claimed back several million dollars in damages on behalf of class members. See www.pomerantzlaw.com"data-reactid =" 23 "> The Pomerantz company with offices in new York, Chicago, los Angeles, and Paris, is recognized as one of the leading companies in corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzThe Pomerantz company, known as the dean of the class action lawsuit, was a pioneer in the field of class action lawsuits for securities. Today, more than 80 years later, the Pomerantz company continues its tradition and fights for the rights of victims of securities fraud, breaches of trust and misconduct by companies. The company has claimed back several million dollars in damages on behalf of class members. See www.pomerantzlaw.com

<p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com"data-reactid =" 24 "> CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Show original content:http://www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-cheetah-mobile-inc-and-certain-officers–cmcm -301106209.html"data-reactid =" 36 "> Show original content: http: //www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-cheetah – mobile-inc-and-certain-officers – cmcm-301106209.html

SOURCE Pomerantz LLP

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