SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of iLearningEngines, Inc. - AILE

PRNewswire 9-Sep-2024 5:15 PM

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- 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 newaction@pomlaw.com 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.

Attorney advertising.  Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-ilearningengines-inc---aile-302242628.html

SOURCE Pomerantz LLP