Cheetah Mobile Inc


Case Summary
Company Name: Cheetah Mobile Inc
Stock Symbol : NYSE: CMCM
Class Period Start: 04/26/2017
Class Period End: 10/25/2017
Lead Plaintiff motion: 01/08/2018
Date Filed: 11/08/2017
Type of Case: Securities Class Action
Court: U.S. District Court for the Central District of California

Thieler Law Corp advises investors with losses exceeding $100,000 of the January 8, 2018 lead plaintiff deadline in a class action lawsuit filed against Cheetah Mobile Inc (NYSE: CMCM) (“Cheetah” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased Cheetah Mobile Inc securities between April 26, 2017 and October 25, 2017, have until January 8, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Cheetah Mobile Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Cheetah Mobile is using company-controlled accounts to inflate the gifting on; Cheetah Mobile overstated its revenue; and  as a result, Cheetah Mobile’s public statements were materially false and misleading at all relevant times.

On October 26, 2017, a report published by Prescience Point Research Group revealed that approximately 55% of Cheetah Mobile’s reported consolidated revenue does not exist and Cheetah Mobile uses company-controlled or “fake” accounts on to gift other users using company money. 

Following this news, NYSE: CMCM fell $0.37 per share or over 4% to close at $8.05 per share on October 26, 2017.

If you were negatively impacted by your investment in Cheetah Mobile Inc securities between April 26, 2017 and October 25, 2017, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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