NEW YORK, March 1, 2022 /PRNewswire/ -- PomerantzLLP is investigating claims on behalf of investors of C3.ai, Inc. ("C3.ai" or the "Company") (NYSE: AI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether C3.ai and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 16, 2022, Spruce Point Capital Management ("Spruce Point") published a report on C3, asserting that Spruce Point's research failed to corroborate various claims made by C3. Accordingly, the Spruce Point report concluded that there is a high probability that C3 is overstating its numbers of paying and active customers and has exaggerated its total addressable market.
On this news, C3's stock price fell $4.52 per share, or 14.21%, over the following trading sessions, closing at $21.19 per share on February 18, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, 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
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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