Press release
Lawsuit filed for Investors in C3.ai, Inc. (NASDAQ: AI)
A lawsuit was filed on behalf of investors in C3.ai, Inc. (NASDAQ: AI) shares over alleged securities laws violations.
Investors who purchased shares of C3.ai, Inc. (NASDAQ: AI) have certain options and for certain investors are short and strict deadlines running. Deadline: May 3, 2022. NASDAQ: AI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Redwood City, CA based C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally.
On February 16, 2022, Spruce Point Capital Management ("Spruce Point") published a report on C3, asserting that Spruce Point's research failed to corroborate various claims made by C3. Accordingly, the Spruce Point report concluded that there is a high probability that C3 is overstating its numbers of paying and active customers and has exaggerated its total addressable market.
Shares of C3.ai, Inc. (NASDAQ: AI) declined from $53.82 per share on November 9, 2021 to as low as $18.66 per share on February 24, 2022.
The plaintiff alleges on behalf of purchasers of C3.ai, Inc. (NASDAQ: AI) common shares , that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Offering Documents and that the Defendants made false and/or misleading statements and/or failed to disclose that C3.ai's partnership with Baker Hughes was deteriorating, that C3.ai's was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership, that C3.ai faced challenges in product adoption and significant salesforce turnover, that the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of C3.ai, Inc. (NASDAQ: AI) 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.
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