Cheetah Mobile Beats Investors’ App Store Access Suit, for Now

Cheetah Mobile Inc. is free of allegations it misled investors about its apps’ compliance with Google policies, but a federal judge in California said the plaintiffs may amend their securities complaint and try again.

Investors say the Chinese app developer didn’t tell them that its apps violated Google Play store policies, making a ban likely. The would-be class complaint failed to adequately allege any of Cheetah’s statements were false or misleading, the U.S. District Court for the Central District of California said.

The investors challenged Cheetah statements on compliance with Google Play’s app policies, compliance with Chinese and other ...