NEW YORK, NY / ACCESSWIRE / September 23, 2024 / Pomerantz LLP is investigating claims on behalf of investors of iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ:AILE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether iLearningEngines and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 29, 2024, Hindenburg Research published a report addressing the Company's accounting and corporate governance practices, alleging that "the majority of iLearningEngines' revenue doesn't exist, and that its relationship with the mystery ‘Technology Partner' is merely a conduit for falsifying its financials."
On this news, iLearningEngines' stock price fell $1.70 per share, or 53.29%, to close at $1.49 per share on August 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP