"(Reuters) -The U.S. Securities and Exchange Commission has been probing marketing platform AppLovin's data-collection practices, Bloomberg News reported on Monday, citing people familiar with the matter. Shares of the company were down 14% at market close. The agency has specifically reviewed allegations that AppLovin violated platform partners' service agreements to push more targeted advertising to consumers, the report said. SEC enforcement officials assigned to cyber- and emerging technologies have been handling the matter, the report said."
"Three short sellers targeted the company earlier this year. Fuzzy Panda Research said in February that AppLovin steals data from Meta . Culper Research had alleged AppLovin exploits "app permissions that enable advertisements themselves to force-feed silent, backdoor app installations directly onto users' phones." Another short seller, Muddy Waters Research, said in March that code showed that AppLovin was collecting and structuring user IDs from its key platform partners, which appears to be a major violation of the platforms' terms of service."
The U.S. Securities and Exchange Commission has opened a review of AppLovin's data-collection and advertising practices, including alleged violations of platform partners' service agreements to deliver more targeted ads to consumers. SEC cyber- and emerging-technology enforcement officials are handling the matter, which was prompted by a whistleblower complaint and several short-seller reports. The SEC has not accused AppLovin of wrongdoing and the review's stage is unclear. AppLovin declined to comment on potential regulatory matters, retained law firm Quinn Emanuel to investigate short-seller activity, and recently sold its mobile games studio while submitting a bid for certain TikTok assets.
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