The Schall Law Firm Invites Shareholder Contributions To A Securities Fraud Case Against …
The Schall Law Firm, a well-known national shareholder rights litigation firm, wants to remind investors about a class action lawsuit against iLearningEngines, Inc. (“iLearningEngines” or “the Company”) (NASDAQ:AILE). This lawsuit is based on alleged violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 by the U.S. Securities and Exchange Commission.
If you purchased the Company’s securities between April 22, 2024, and August 28, 2024, which is known as the “Class Period,” the firm encourages you to get in touch before December 6, 2024. Shareholders who experienced losses during this time are invited to participate in the case. You can contact Brian Schall at the Schall Law Firm in Los Angeles, and discuss your rights free of charge. Feel free to reach out through their website at www.schallfirm.com or via email at bschall@schallfirm.com.
According to the Complaint, the Company misled the market with false statements by not disclosing that its alleged “Technology Partner” was actually a related party. This undisclosed relationship was utilized to report “largely fake” revenues, leading to an overstatement of the Company’s revenue. Consequently, the Company’s public statements were found to be false and misleading throughout the class period. As the truth came to light, investors suffered financial losses.
The Schall Law Firm, known for representing investors globally, specializes in securities class action lawsuits and shareholder rights litigation. Keep in mind that this press release may be considered Attorney Advertising in certain jurisdictions under the applicable laws and rules of ethics.
To join the case and recover potential losses, reach out to The Schall Law Firm at 310-301-3335 or via email at info@schallfirm.com. More information can be found on their website at www.schallfirm.com.
