June 20 (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. (Reporting by Devika Nair in Bengaluru; Editing by Shilpi Majumdar)