Philadelphia, Pennsylvania--(Newsfile Corp. - November 14, 2024) - A securities class action lawsuit has been filed against iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ: AILE). The lawsuit has been filed on behalf of purchasers of iLearningEngines securities between April 22, 2024 and August 28, 2024, inclusive (the "Class Period").
CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.
Investors who purchased or acquired iLearningEngines securities during the Class Period may, no later than DECEMBER 6, 2024, seek to be appointed as a lead plaintiff representative of the class.
Based in Bethesda, Maryland, iLearningEngines operates an AI-driven platform for learning.
The complaint in this class action alleges that throughout the Class Period, Defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; and (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229846
