SAN DIEGO, May 06, 2024 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential claims on behalf of Innodata Inc. ("Innodata" or the "Company") (NASDAQ: INOD) against certain of its officers and directors to hold them responsible for damages they allegedly caused the company to suffer.
If you have continuously owned Innodata shares since before May 9, 2019, you have certain legal rights as a shareholder. If you want to learn more, please read below or submit your information at:
https://www.johnsonfistel.com/investigations/innodata-inc
Recently a class action lawsuit was filed against Innodata seeking damages, but only for those who acquired stock between May 9, 2019 and February 14, 2024 (the “Class Period”). If you purchased shares before the Class Period, you will not be able to participate in any recovery obtained in the class action, but you may be able to participate in a separate action seeking to hold the officers and directors who engaged in the alleged wrongdoing responsible for any damage to the company.
The filed complaint alleges that defendants made false statements and/or concealed that: (1) Innodata did not have a viable AI technology; (2) its Goldengate AI platform, the centerpiece of Innodata’s reported AI technology, is a rudimentary software developed by just a handful of employees; (3) it was not going to utilize AI to any significant degree for new Silicon Valley contracts; (4) it was not effectively investing in research and development for AI; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Innodata’s AI business and development and related financial results, growth, and prospects.
If you would like to know more about your rights as a shareholder or how you can participate in holding the officers and directors responsible for the damage that they allegedly caused the company to suffer, please contact Johnson Fistel at (619) 814-4471.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
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James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
