(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 nearly 14% after the report.
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, it said.
AppLovin did not immediately respond to a Reuters request for comment. The SEC said it is not able to respond to many inquiries from the press due to the government shutdown.
(Reporting by Juby Babu in Mexico City; Editing by Sahal Muhammed)
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