The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased C3.ai, Inc. (NYSE: AI) (a) 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) securities between December 9, 2020 and February 15, 2022, both dates inclusive.
According to the C3.ai, Inc. lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in C3.ai, Inc. you have until May 3, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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