SAN DIEGO, March 08, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) announces that a class action has been commenced on behalf of investors of C3.ai, Inc. ("C3.ai" or the "Company") (NYSE: AI). The lawsuit is currently on behalf of a potential class of C3.ai investors who purchased or acquired: (a) C3.ai Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about December 9, 2020 (the "IPO" or "Offering"); and/or (b) C3.ai securities between December 9, 2020 and February 15, 2022, both dates inclusive (the "Class Period").
What actions may I take at this time? If you purchased or otherwise acquired C3.ai securities during the Class Period, you have until May 3, 2022, to seek appointment as a lead plaintiff in the action. A lead plaintiff will act on behalf of all other class members in directing the lawsuit, including overseeing any case settlement.
If you suffered significant losses on your Class Period purchases:
- Contact Lead Securities Analyst Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
- Click [here] or paste the following web address into your browser to submit your losses:: https://www.cognitoforms.com/JohnsonFistel/C3aiInc2
- For more information, visit our website at https://www.johnsonfistel.com/faq
There is no cost or obligation to you.
What are the allegations in the complaint? The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Offering Documents and 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's 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.
What if I have information relevant to the case? Individuals with nonpublic information regarding C3.ai should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP. Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in securities class action and derivative lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
