RADNOR, Pa., April 22, 2022 /PRNewswire/ — The law firm Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) advises investors that a securities class action lawsuit has been filed against C3.ai, Inc. (“C3”) (NYSE:AI). The suit accuses C3 of violations of federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations and prospects. As a result of C3’s materially misleading statements to the public, C3 investors suffered significant losses.
CLICK HERE TO SUBMIT YOUR LOSSES C3. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE INTO YOUR BROWSER: https://www.ktmc.com/ai-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=ai
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PRINCIPAL APPLICANT DEADLINE: MAY 3, 2022
COURSE PERIOD: DECEMBER 9, 2020 BY FEBRUARY 15, 2022
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. at (484) 270-1453 or by email at [email protected]
Kessler Topaz is one of the world’s foremost advocates for protecting the public from corporate fraud and other wrongdoing. Our securities fraud litigants are consistently individually recognized as leaders in the field and our firm is both feared and respected within the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the categories of shareholders we represent.
ALLEGED FOUL BY C3
C3 is an artificial intelligence software company that provides software-as-a-service applications for businesses in North America, Europethe Middle East, Africathe Asia Pacificand internationally.
On February 16, 2022, Spruce Point Capital Management, LLC (“Spruce Point Capital”) has issued a short sale report on C3. In the report, Spruce Point Capital revealed that it found “several instances of claims made by C3 that appear to be exaggerated or inconsistent with the results of our research.” Specifically, the report states, among other things, that given the unstable customer definition information, there is a strong likelihood that C3 is overestimating the inflated technology value of its paying and active customers. Additionally, Spruce Point Capital found that C3’s implied market share of just 0.12% either supports market size inflation or its irrelevance in the industry sell cycle.
Following this news, the C3 share price fell $1.01 per share, or 3.93%, to close at $24.70 per share on February 16, 2022.
WHAT CAN I DO?
C3 investors can, not later than May 3, 2022 seek to be named as the lead class representative plaintiff through Kessler Topaz Meltzer & Check, LLP or another attorney, or may choose to do nothing and remain an absentee class member. Kessler Topaz Meltzer & Check, LLP encourages C3 investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO REGISTER FOR THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the greatest financial interest and who are also adequate and typical of the category of investors proposed. The lead plaintiff chooses an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead or class attorneys. Your ability to participate in any collection is not affected by whether or not to serve as lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP is filing class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, corporate and fiduciary misconduct and negligence. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
SOURCE Kessler Topaz Meltzer & Check, LLP