(Reuters) - The U.S. Department of Justice will not pursue allegations that TikTok misled U.S. consumers about their data security in a forthcoming suit accusing the company of children's privacy violations, Bloomberg News reported on Thursday.

The DOJ is preparing to file a consumer protection lawsuit against TikTok later this year on behalf of the U.S. Federal Trade Commission, which investigated the case, the report said, citing people familiar with the matter.