Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Lost Money in iLearningEngines, Inc.? Gibbs Law Group Investigates Potential Securities Law Violations By: Gibbs Law Group via Business Wire August 29, 2024 at 17:50 PM EDT Shares of iLearningEngines, Inc. (“iLearningEngines”) plunged over 54% in intraday trading on Thursday, August 29, 2024, following a Hindenburg report alleging that “the majority of iLearningEngines’ revenue doesn’t exist” and that its relationship with an undisclosed related party referred to as “Technology Partner” is “a conduit for falsifying its financials.” Gibbs Law Group is investigating a potential iLearningEngines, Inc. (NASDAQ: AILE) Securities Class Action Lawsuit on behalf of shareholders who lost money in iLearningEngines, Inc. What Should iLearningEngines, Inc. Investors Do? If you invested in iLearningEngines, Inc., visit our website by clicking here, or call us toll-free at (888) 410-2925 to get more information and discuss how you may be able to recover your losses. Our investigation concerns whether iLearningEngines, Inc. has violated federal securities laws by providing false or misleading statements to investors. What is the iLearningEngines, Inc. Lawsuit Investigation About? On Thursday, August 29, 2024, Hindenburg Research published a report claiming that “nearly all” of iLearningEngines’ revenue and expenses “seem to be run through an undisclosed related party, an unnamed ‘Technology Partner,’” and “the majority of iLearningEngines’ revenue doesn’t exist.” The Hindenburg report states that iLearningEngines also has “no obvious industry presence, doesn’t name key customers or partners and does not appear to do the volume of business it claims.” For example, the company claims its Indian market has an annual revenue run rate of $216 million, but the amounts reported by its sole Indian subsidiary are actually around 99.4% less than what iLearningEngines purports, according to the Hindenburg report. Following this news, shares of iLearningEngines plummeted over 54% in intraday trading on Thursday, August 29, 2024, causing significant harm to investors. About Gibbs Law Group Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.” This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240829027407/en/Contacts CATHERINE CONROY PHONE: 510.350.9705 EMAIL: CRC@CLASSLAWGROUP.COM Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Lost Money in iLearningEngines, Inc.? Gibbs Law Group Investigates Potential Securities Law Violations By: Gibbs Law Group via Business Wire August 29, 2024 at 17:50 PM EDT Shares of iLearningEngines, Inc. (“iLearningEngines”) plunged over 54% in intraday trading on Thursday, August 29, 2024, following a Hindenburg report alleging that “the majority of iLearningEngines’ revenue doesn’t exist” and that its relationship with an undisclosed related party referred to as “Technology Partner” is “a conduit for falsifying its financials.” Gibbs Law Group is investigating a potential iLearningEngines, Inc. (NASDAQ: AILE) Securities Class Action Lawsuit on behalf of shareholders who lost money in iLearningEngines, Inc. What Should iLearningEngines, Inc. Investors Do? If you invested in iLearningEngines, Inc., visit our website by clicking here, or call us toll-free at (888) 410-2925 to get more information and discuss how you may be able to recover your losses. Our investigation concerns whether iLearningEngines, Inc. has violated federal securities laws by providing false or misleading statements to investors. What is the iLearningEngines, Inc. Lawsuit Investigation About? On Thursday, August 29, 2024, Hindenburg Research published a report claiming that “nearly all” of iLearningEngines’ revenue and expenses “seem to be run through an undisclosed related party, an unnamed ‘Technology Partner,’” and “the majority of iLearningEngines’ revenue doesn’t exist.” The Hindenburg report states that iLearningEngines also has “no obvious industry presence, doesn’t name key customers or partners and does not appear to do the volume of business it claims.” For example, the company claims its Indian market has an annual revenue run rate of $216 million, but the amounts reported by its sole Indian subsidiary are actually around 99.4% less than what iLearningEngines purports, according to the Hindenburg report. Following this news, shares of iLearningEngines plummeted over 54% in intraday trading on Thursday, August 29, 2024, causing significant harm to investors. About Gibbs Law Group Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.” This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240829027407/en/Contacts CATHERINE CONROY PHONE: 510.350.9705 EMAIL: CRC@CLASSLAWGROUP.COM
Shares of iLearningEngines, Inc. (“iLearningEngines”) plunged over 54% in intraday trading on Thursday, August 29, 2024, following a Hindenburg report alleging that “the majority of iLearningEngines’ revenue doesn’t exist” and that its relationship with an undisclosed related party referred to as “Technology Partner” is “a conduit for falsifying its financials.” Gibbs Law Group is investigating a potential iLearningEngines, Inc. (NASDAQ: AILE) Securities Class Action Lawsuit on behalf of shareholders who lost money in iLearningEngines, Inc. What Should iLearningEngines, Inc. Investors Do? If you invested in iLearningEngines, Inc., visit our website by clicking here, or call us toll-free at (888) 410-2925 to get more information and discuss how you may be able to recover your losses. Our investigation concerns whether iLearningEngines, Inc. has violated federal securities laws by providing false or misleading statements to investors. What is the iLearningEngines, Inc. Lawsuit Investigation About? On Thursday, August 29, 2024, Hindenburg Research published a report claiming that “nearly all” of iLearningEngines’ revenue and expenses “seem to be run through an undisclosed related party, an unnamed ‘Technology Partner,’” and “the majority of iLearningEngines’ revenue doesn’t exist.” The Hindenburg report states that iLearningEngines also has “no obvious industry presence, doesn’t name key customers or partners and does not appear to do the volume of business it claims.” For example, the company claims its Indian market has an annual revenue run rate of $216 million, but the amounts reported by its sole Indian subsidiary are actually around 99.4% less than what iLearningEngines purports, according to the Hindenburg report. Following this news, shares of iLearningEngines plummeted over 54% in intraday trading on Thursday, August 29, 2024, causing significant harm to investors. About Gibbs Law Group Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.” This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240829027407/en/
