"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. The probe is in response to a whistleblower complaint filed earlier this year, along with multiple short seller reports published in the past several months, Bloomberg said."
"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."
U.S. Securities and Exchange Commission investigators have reviewed allegations that AppLovin violated platform partners' service agreements to push more targeted advertising and collected partner user IDs. SEC enforcement officials in cyber- and emerging technologies handled the matter after a whistleblower complaint and multiple short-seller reports. The regulator has not accused AppLovin of wrongdoing. AppLovin shares fell 14% at market close. Short sellers including Fuzzy Panda, Culper Research and Muddy Waters alleged stealing Meta data, forced silent app installations via ad permissions, and collection and structuring of partner user IDs. AppLovin retained Quinn Emanuel to investigate short-seller activity and sold its mobile games studio.
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