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Mobile app company Cheetah Mobile execs charged by US SEC with insider trading after setting up 10b5-1 trading plan

( September 21, 2022, 14:36 GMT | Official Statement) -- MLex Summary: Mobile app company Cheetah Mobile's Chief Executive, Sheng Fu, and its former president and chief technology officer, Ming Xu, were charged by the US Securities and Exchange Commission with insider trading after setting up a “purported” 10b5-1 trading plan while aware of a major advertising revenue decline from the company’s largest advertising partner. The two, who allegedly sold their Cheetah Mobile securities to avoid losses, agreed to pay a total of $756,834 to settle the charges.See statement and document below....

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