Protein phosphatase that dephosphorylates AKT family kinase specifically at 'Ser-473', blocking cell cycle progression and promoting cell apoptosis. May play an inhibitory role in glucose uptake by adipocytes. H2O + O-phospho-L-seryl-[protein] = L-seryl-[protein] + phosphate H2O + O-phospho-L-threonyl-[protein] = L-threonyl-[protein] + phosphate Binds 2 divalent metal cations. Expressed in subcutaneous adipose tissue. Expression levels are slightly decreased in subcutaneous adipose tissue following weight loss. Expression levels may be not affected by preadipocyte differentiation. Transactivated by the large envelope protein of the hepatitis B virus (HBV). Belongs to the metallophosphoesterase superfamily. CPPED1 family.