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C3.AI SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against C3.ai, Inc. - AI
News provided byKahn Swick & Foti, LLC
Apr 15, 2022, 10:50 PM ET
NEW ORLEANS, April 15, 2022 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 3, 2022 to file lead plaintiff applications in a securities class action lawsuit against C3.ai, Inc. ("C3" or the "Company") (NYSE:AI), if they purchased the Company's securities between December 9, 2020 and February 15, 2022, inclusive (the "Class Period") and/or purchased or otherwise acquired the Company's shares pursuant to the Company's December 2020 initial public offering (the "IPO"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities or shares of C3 as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-ai/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 3, 2022.
About the Lawsuit
C3 and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company's partnership with Baker Hughes was deteriorating; (ii) the Company was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) the Company 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 of the foregoing, the Company's statements were materially false and misleading at all relevant times.
The case is The Reckstin Family Trust v. C3.Ai, Inc., et al., No. 22-cv-01413.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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