Federal Investigation Into AppLovin Marketing Platform Remains Ongoing

The Securities and Exchange Commission continues its investigation into marketing platform AppLovin, declining to release documents related to the probe. The agency cited concerns that releasing information could harm the active enforcement investigation and potentially compromise witnesses.

Federal regulators are maintaining their investigation into marketing platform AppLovin, according to a Friday report from Bloomberg News.

The Securities and Exchange Commission previously began examining claims that AppLovin breached service agreements with platform partners in order to deliver more targeted advertisements to users, Bloomberg initially reported in October.

When Bloomberg requested documents related to the AppLovin investigation, the SEC refused to provide them. Following an appeal, the agency confirmed that an “investigation involving AppLovin is still active and ongoing.”

In a Friday letter to Bloomberg, the SEC explained it would not share internal communications among staff members mentioning AppLovin because doing so could “cause harm to the ongoing and active enforcement investigation.”

According to the report, the agency expressed concerns that relevant individuals and organizations might “fabricate evidence, influence witness testimony and/or destroy or alter certain documents” if information were disclosed.

The SEC also noted in its Bloomberg correspondence that releasing the communications could potentially expose cooperating witnesses. The agency has not detailed what specific areas the investigation covers or formally accused AppLovin or its executives of any violations.

Reuters was unable to confirm the Bloomberg report independently. Both the SEC and AppLovin have not yet responded to Reuters’ requests for statements.

The AppLovin investigation reportedly stems from a whistleblower complaint submitted last year, as well as several reports from short-seller firms.