Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of C3.ai, Inc
This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) C3.ai Class A common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about December 9, 2020; and/or (b) C3.ai securities between December 9, 2020 and February 15, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 3, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, C3.ai, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) C3.ai’s partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) 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 (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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