SAN FRANCISCO, September 14, 2021 - As publicly disclosed today, the United States Securities and Exchange Commission concluded its investigation involving certain practices at App Annie through mid-2018. The investigation did not relate to our current products, nor did it relate to our current relationships with customers.
Without admitting or denying the findings in the SEC’s order, App Annie settled the matter and we are pleased it is now resolved. Over the past 3 years, we made a number of material changes to our operations and established a new level of trust and transparency. These changes include the following:
(i) appointment of a new CEO and Executive Team;
(ii) implementation of structural changes on how we build data estimates which includes a robust utilization of end-to-end data science;
(iii) establishment of a company-wide culture of compliance, including the appointment of a Head of Global Compliance; and
(iv) codification of procedures to ensure the exclusion of all confidential public company data from the process of generating market data estimates for our Intelligence products.
We believe these changes, among other things, set the industry standard. Additionally, Bertrand Schmitt, Co-Founder, former Chairman and CEO, has stepped down from the Board. We look forward to providing sustained leadership as we believe regulatory oversight of the alternative data market space should continue.
For reference here is our Trust and Assurance page.