SEC Says Probe Involving AppLovin ‘Still Active and Ongoing’ (1)

A Securities and Exchange Commission probe involving mobile advertising technology company AppLovin Corp. is “still active and ongoing,” the regulator said Friday.

The regulator declined to share correspondence between staffers referencing AppLovin because it might “cause harm to the ongoing and active enforcement investigation,” the agency said in a letter to Bloomberg News. Individuals and entities of interest to the investigation could “fabricate evidence, influence witness testimony and/or destroy or alter certain documents.” The correspondence might also reveal cooperating witnesses, the SEC said.

Shares of AppLovin pared their gains Friday on the news. The stock was up 3.7% to $427.25 ...