NEW YORK, April 29, 2022 /PRNewswire/ -- Jakubowitz Law
announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of C3.ai, Inc. (NYSE: AI).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/c3-ai-inc-loss-submission-form/?id=26465&from=4
This lawsuit is on behalf of a class consisting of all persons
and entities other than Defendants that purchased or otherwise
acquired: (a) C3.ai Class A common stock pursuant and/or traceable
to the documents issued in connection with the Company's initial
public offering conducted on or about December 9, 2020; and/or (b) C3.ai securities
between December 9, 2020 and
February 15, 2022, both dates
inclusive.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
May 3, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, C3.ai, Inc. issued materially
false and/or misleading statements and/or failed to disclose that:
(i) C3.ai's partnership with Baker Hughes was deteriorating; (ii)
C3.ai was employing a flawed accounting methodology to conceal the
deterioration of its Baker Hughes partnership; (iii) C3.ai 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,
the Company's public statements were materially false and
misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law