SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of C3.ai, Inc. - AI
NEW YORK, April 19, 2023 /PRNewswire/ -- Pomerantz LLP 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 April 4, 2023, Kerrisdale Capital ("Kerrisdale") sent a letter to C3.ai's auditor, Deloitte & Touche, alleging "serious accounting and disclosure issues." Kerrisdale's letter "discuss[ed] the highly conspicuous growth in unbilled receivables to levels we've never before seen in software companies. Opaque, confusing and highly concerning disclosures and financials related to the company's related party and very large customer, Baker Hughes (BKR)."
On this news, C3.ai's price fell $8.92 per share, or 26.34%, to close at $24.95 per share on April 3, 2023.
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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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