AppLovin stock dropped 2.6% in premarket after tumbling 14% on Monday after a report said the Securities and Exchange Commission has been probing the advertising technology company.

Bloomberg reported that the SEC has been looking into allegations that AppLovin violated platform partners’ service agreements to put out more targeted ads to people, citing people familiar with the matter.

An AppLovin spokesperson told Barron’s that “generally, we do not comment on the existence or nonexistence of any potential regulatory matters. That said, as a global public company, we regularly engage with regulators and if we get inquiries we address them in the ordinary course. Material developments, if any, would be disclosed through the appropriate public channels.”

The SEC isn’t responding to comment requests during the government shutdown.

Monday’s reporting comes after short seller reports were published earlier this year about the company.

The reports from short sellers Fuzzy Panda Research and Culper Research alleged that AppLovin was replicating Meta Platforms ad targeting strategy and that the ads it creates violate the terms of Google and Apple’s app stores, among other claims. At the time, AppLovin Chief Executive Adam Foroughi published a blog post in response to the short reports, calling the claims “false and misleading.”