Lawsuit filed in effort to recover losses for investors who lost money with shares of Innodata Inc. (NASDAQ: INOD)

An investor, who purchased shares of Innodata Inc. (NASDAQ: INOD), filed a lawsuit against Innodata Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of Innodata Inc. (NASDAQ: INOD) have certain options and for certain investors are short and strict deadlines running. Deadline: April 22, 2024. NASDAQ: INOD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Ridgefield Park, NJ based Innodata Inc. operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally.

On February 15, 2024, Wolfpack Research published a report alleging, among other things, that Innodata is "a deteriorating, manual data-entry business driven by offshore labor, not innovation." Wolfpack further alleged that "[s]igns that [Innodata] is not an AI company are everywhere" noting the Company's minimal spending on cloud services and R&D, as well as the fact that "96% of [its] workforce is overseas and its average employee generates less than $20k of revenue annually

Shares of Innodata Inc. (NASDAQ: INOD) declined from $12.17 per share on February 12, 2024 to low as $6.78 per share on February 26, 2024.

The plaintiff claims that between May 9, 2019 and February 14, 2024, the Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that Innodata: did not have a viable AI technology, that its Goldengate AI platform is a rudimentary software developed by just a handful of employees, that it was not going to utilize AI to any significant degree for new Silicon Valley contracts, that it was not effectively investing in research and development for AI, and that based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Innodata's AI business and development and related financial results, growth, and prospects.

Those who purchased shares of Innodata Inc. (NASDAQ: INOD) 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.