Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Cheetah Mobile Inc.

Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the January
29, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased Cheetah Mobile Inc.
(“Cheetah” or the “Company”) (NYSE: CMCM) securities
between April 21, 2015 and November 27, 2018, inclusive (the
“Class Period”). Cheetah investors have until January 29, 2019 to
file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here
to participate.

On November 26, 2018, BuzzFeed News reported that
certain Cheetah apps were exploiting user permissions as part of an ad
fraud scheme. Specifically, the article claimed that certain Cheetah
apps “tracked when users downloaded new apps and used this data to
inappropriately claim credit for having caused the download.” On this
news, Cheetah’s share price fell $3.32 per share or nearly 37% over the
next two trading days to close at $5.48 per share on November 27, 2018,
thereby injuring investors.

The complaint filed in this class action alleges that defendants
throughout the Class Period made false and/or misleading statements
and/or failed to disclose that: (1) Cheetah Mobile’s apps had
undisclosed imbedded features which tracked when users downloaded new
apps; (2) Cheetah Mobile used this data to inappropriately claim credit
for having caused the downloads; (3) the foregoing features, when
discovered, would foreseeably subject Cheetah Mobile’s apps to removal
from the Google Play store; (4) accordingly, Cheetah Mobile’s revenues
during the relevant period were in part the product of improper conduct
and thus unsustainable; and (5) as a result, Cheetah Mobile’s public
statements were materially false and misleading at all relevant times.

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If you purchased shares of Cheetah, you may move the Court no later than January
29, 2019 to ask the Court to appoint you as lead plaintiff. To
be a member of the Class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190128005621/en/