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September 14, 2021

Posted  September 14, 2021

App Annie Inc. will pay $10 million to resolve claims of securities fraud arising from the company’s alleged misuse of mobile app “alternative data” shared by companies about the performance of their mobile apps with the promise that such data would be aggregated and anonymized.  In fact, App Annie used non-aggregated and non-anonymized data to develop models that it sold to customers to make investment decisions and trade ahead of upcoming earnings announcements.  The company’s co-founder and former CEO will also pay a fine of $300,000.  SEC

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,

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