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MarketScreener Homepage  >  Equities  >  Nyse  >  Cheetah Mobile Inc.    CMCM

CHEETAH MOBILE INC.

(CMCM)
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Shareholder Alert: Robbins LLP Announces Cheetah Mobile Inc. (CMCM) Sued for Misleading Shareholders

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06/30/2020 | 03:53pm EDT

Shareholder rights law firm Robbins LLP announces that a purchaser of Cheetah Mobile Inc. (NYSE: CMCM) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between March 25, 2019 to February 20, 2020. Cheetah Mobile is a mobile Internet company that offers mobile utility, casual games, and live streaming products.

If you suffered a loss as a result of Cheetah Mobile's misconduct, click here.

Cheetah Mobile Inc. (CMCM) Accused of Misleading Shareholders

According to the complaint filed in June 2020, Cheetah Mobile announced positive financial results for its fourth quarter and 2018 annual report. In the following months, Cheetah Mobile continued to issue optimistic financial outlooks. However, the Company failed to disclose that certain Cheetah Mobile apps were in violation of Google's terms of agreement and could lead to the termination the Company's Google advertising contract. On February 21, 2020, Cheetah Mobile revealed that its Google Play Store, Google AdMob, and Google AdManager accounts were disabled on February 20, 2020 "because some of the Company's apps had not been compliant with Google policies, resulting in certain invalid traffic." On this news, the Company's share price fell approximately 17% to close at $2.99 per share on February 21, 2020. On June 10, 2020, Cheetah Mobile announced in its first quarter 2020 financial results that revenues for its mobile utility product business "decreased by 62.6% year over year to RMB54.3 million in first quarter of 2020 . . . mainly due to the suspension of the Company's advertising collaborations with Google." On this news, the Company's share price fell $0.25, or more than 7%, over two consecutive trading sessions to close at $3.10 per share on June 11, 2020, and continues to decline.

If you purchased Cheetah Mobile Inc. (CMCM) securities between March 25, 2019 and February 20, 2020, you have until August 24, 2020, to ask the court to be appointed lead plaintiff for the class.

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form

Want to be notified if a class action against CMCM settles? Want to receive free alerts about companies engaged in wrongdoing? Sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


© Business Wire 2020
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Financials
Sales 2020 2 733 M 401 M 401 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -5,14x
Yield 2020 -
Capitalization 1 749 M 256 M 256 M
Capi. / Sales 2020 0,64x
Capi. / Sales 2021 0,58x
Nbr of Employees 2 209
Free-Float 28,2%
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Technical analysis trends CHEETAH MOBILE INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 16,55 CNY
Last Close Price 12,69 CNY
Spread / Highest target 62,5%
Spread / Average Target 30,4%
Spread / Lowest Target -7,62%
EPS Revisions
Managers
NameTitle
Sheng Fu Chairman & Chief Executive Officer
Jin Tao Ren Chief Financial Officer
Jie Xiao Director & Senior Vice President
Tao Zou Director
Wei Dong Ji Independent Director
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