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Business ProfileforApp Annie
Additional business information
On September 14, 2021, the company App Annie settled charges (File No:3-20549/Release No: 4-92975) brought against it and former CEO Bertrand Schmitt by the Securities and Exchange Commission (SEC).
The settlement stems from SEC’s findings that between 2014 and 2018, App Annie assured companies that provided their app performance data that the information would not be disclosed to third parties and that the data would be aggregated and anonymized before being used for statistical purpose. It was found that App Annie used non-aggregated and non-anonymized data to alter its model-generated estimates to make them more valuable to sell to trading firms. It was also found that App Annie misrepresented to their trading firm customers that the estimates were generated in accordance with consents it obtained from companies that share confidential data, that they had internal controls in place to prevent the misuse of confidential data and that they were in compliance with federal securities laws.
The SEC found that App Annie was in violation of the anti-fraud provisions of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, which prohibits fraudulent conduct in connection with the purchase or sale of securities.
Without admitting or denying SEC’s finding, App Annie will pay a $10 million penalty.
At-a-glance
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Business Details
- Location of This Business
- 1 Kearny Bldg., 23 Geary St., San Francisco, CA 94108
- BBB File Opened:
- 10/12/2018
- Number of Employees:
- 1
- Business Management
- Mr. Ted Krantz, CEO
- Contact Information
Customer Contact
- Mr. Ted Krantz, CEO
Customer Complaints
0 Customer Complaints
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