Lawsuit filed for Investors in shares of Aterian, Inc. (NASDAQ: MWK)

An investor, who purchased shares of Aterian, Inc. (NASDAQ: MWK), filed a lawsuit over alleged violations of Federal Securities Laws by Aterian, Inc. f/k/a Mohawk Group Holdings, Inc.

Investors who purchased shares of Aterian, Inc. (NASDAQ: MWK) have certain options and for certain investors are short and strict deadlines running. Deadline: July 12, 2021. NASDAQ: MWK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On May 4, 2021, Culper Research published a report titled "Aterian (ATER): Bought from Felons & Fraudsters, Sold to You," alleging that Aterian has "ties to convicted criminals" and is "promoting what we believe is an overhyped ‘AI’ narrative and a string of garbage acquisitions to mask the failure of its already ill-conceived core business." Culper also alleges that "[o]ver 25% of Aterian shares now belong to two felons and two alleged scam artists, all of whom will be free to dump their stock by August."

Aterian, Inc. (NASDAQ: MWK) declined from $25.70 per share on April 26, 2021, to as low as $14.27 per share on May 6, 2021.

The plaintiff claims that between December 1, 2020 and May 3, 2021, the defendants failed to disclose to investors that the Company’s organic growth is plummeting, that the Company’s recent, self-lauded acquisitions were overpayments for flawed assets from questionable sources, that Aterian’s purported artificial intelligence software is a flawed product that lacks customer interest, that Aterian uses rebate programs and paid or artificial reviews to pump up their product offerings, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Aterian, Inc. (NASDAQ: MWK) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.