Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in United States District Court for By Investing.com
The next Lead Plaintiff deadline is December 6, 2024
CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP (Wolf Haldenstein) announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Maryland on behalf of individuals and entities that purchased or acquired -LearningEngines, Inc. (LearningEngines or the Company) (NASDAQ: AILE) securities between April 22, 2024 and August 28, 2024, inclusive (Class Period).
All investors who bought shares and experienced losses are advised to contact the firm immediately classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You can find more information about the action or to join the case by following this link:
LearningEngines, Inc. (NASDAQ: AILE) “ Wolf Haldenstein Adler Freeman & Herz LLP
August 29, 2024, before the market. Hindenburg Research published a report titled LearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue. In its report, Hindenburg Research alleged that nearly all of the Company’s revenue and expenses in 2022 and 2023 were driven by an undisclosed related party, which the Company calls a Technology Partner.
Hindenburg Research further alleged that iLearningEngines used its undisclosed party affiliations to falsely report income and expenses. Among other things, Hindenburg Research alleged that the Company used its undisclosed affiliate relationship with this Technology Partner to falsely report $138 million in revenue from the India market in 2022. In fact, the total revenue was approximately $853,471, or 99.4% less than LearningEngines. which had been seeking income from the country at that time.
On this news, the Company’s share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024.
If you have lost, you may, before long December 6, 2024ask the Court to appoint you as the lead plaintiff in the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
Wolf Haldenstein is experienced in the prosecution of securities class actions and derivative litigation in district and federal courts and appellate courts across the country. The firm has attorneys in various practice areas, with offices in New York, Chicago, Nashville and San Diego. The firm’s reputation and expertise in shareholder and class action litigation has been repeatedly recognized by courts, appointing it to senior positions in complex multi-district securities and consolidated litigation.
If you wish to discuss this action or have questions about your rights and interests in this case, please immediately contact Wolf Haldenstein by phone at (800) 575-0735 or by email at classmember@whafh.com.
Contact person:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Phone: (800) 575-0735 or (212) 545-4774
This press release may be considered attorney advertising in other jurisdictions under applicable law and ethics rules.
