ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until May 3, 2022 to file lead plaintiff applications in a securities class action lawsuit against C3.ai, Inc. (“C3” or the "Company") (NYSE:AI), if they purchased the Company’s securities between December 9, 2020 and February 15, 2022, inclusive (the “Class Period”) and/or purchased or otherwise acquired the Company’s shares pursuant to the Company’s December 2020 initial public offering (the “IPO”). This action is pending in the United States District Court for the Northern District of California.
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C3 investors should visit us at https://claimsfiler.com/cases/nyse-ai/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
C3 and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s partnership with Baker Hughes was deteriorating; (ii) the Company was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) the Company 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 of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
The case is The Reckstin Family Trust v. C3.Ai, Inc., et al., No. 22-cv-01413.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220501005052/en/
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