Feb 20 (Reuters) – The U.S. Securities and Exchange Commission’s investigation into marketing platform AppLovin is continuing, Bloomberg News reported on Friday.
Bloomberg had in October reported that the SEC was probing allegations that AppLovin violated platform partners’ service agreements to push more targeted advertising to consumers.
The SEC declined to release documents related to the AppLovin probe when requested by Bloomberg. When appealed, the agency said that an “investigation involving AppLovin is still active and ongoing.”
It did not share correspondence between staffers referencing AppLovin as it might “cause harm to the ongoing and active enforcement investigation,” the SEC said in a letter to Bloomberg on Friday.
Individuals and entities relevant to the investigation could “fabricate evidence, influence witness testimony and/or destroy or alter certain documents,” according to the report.
The correspondence might also reveal cooperating witnesses, the SEC said in its letter to Bloomberg. It has not specified the subject or scope of the investigation nor has it accused AppLovin or its officials of wrongdoing.
Reuters could not independently verify the report. The U.S. SEC and AppLovin did not immediately respond to Reuters’ requests for comment.
The investigation into AppLovin is reportedly in response to a whistleblower complaint filed last year, along with multiple short-seller reports.
(Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)
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