NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) --  Levi & Korsinsky, LLP notifies investors in iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ: AILE) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of iLearningEngines investors who were adversely affected by alleged securities fraud between April 22, 2024 and August 28, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/ile ...

NEW YORK, Nov. 15, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ: AILE) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of iLearningEngines investors who were adversely affected by alleged securities fraud between April 22, 2024 and August 28, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/ilearninge ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of iLearningEngines, Inc. (NASDAQ: AILE) regarding a class action lawsuit due to allegations of misleading statements and undisclosed related party transactions during a specified class period [1][2]. Group 1: Allegations and Class Period - The class period for the allegations is from April 22, 2024, to August 28, 2024 [1]. - Allegations include that the company had a "Technology Partner" that was an undisclosed related party, leading to the reporting of "largely fake" revenue and expenses [1]. - The company is accused of significantly overstating its revenue as a result of these actions, which rendered positive statements about its business misleading [1]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiffs [2]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: Law Firm's Commitment - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].

Core Viewpoint - A class action securities lawsuit has been filed against iLearningEngines, Inc. for alleged securities fraud affecting investors between April 22, 2024, and August 28, 2024 [1][2] Group 1: Allegations - The lawsuit claims that the Company made false statements and concealed that its "Technology Partner" was an undisclosed related party [2] - It is alleged that the Company used this undisclosed related party to report "largely fake" revenue and expenses, leading to a significant overstatement of its revenue [2] - As a result of these actions, the defendants' positive statements regarding the Company's business, operations, and prospects were materially misleading and lacked a reasonable basis [2] Group 2: Legal Process - Investors who suffered losses during the specified timeframe have until December 6, 2024, to request to be appointed as lead plaintiff [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3] Group 3: Law Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]

Core Viewpoint - The Gross Law Firm is notifying shareholders of iLearningEngines, Inc. about a class action lawsuit due to allegations of misleading statements and undisclosed related party transactions that inflated the company's revenue [1][2]. Group 1: Allegations and Class Period - The class period for the allegations is from April 22, 2024, to August 28, 2024 [2]. - Allegations include that the company had an undisclosed related party as a "Technology Partner" and used this partner to report inflated revenue and expenses [2]. - The complaint asserts that the company significantly overstated its revenue, leading to materially misleading statements about its business and prospects [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiff [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. - Participation in the case incurs no cost or obligation for the shareholders [3]. Group 3: Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights against deceit and fraud, emphasizing responsible business practices [4]. - The firm seeks recovery for investors who suffered losses due to false or misleading statements that artificially inflated stock prices [4].

Core Points - A lawsuit has been filed against iLearningEngines, Inc. on behalf of investors who purchased securities between April 22, 2024, and August 28, 2024 [1][2] - The lawsuit follows a report by Hindenburg Research alleging that iLearningEngines reported inflated revenue figures, specifically claiming $138 million in revenue from the Indian market in 2022, which was actually 99.4% less [3] - Following the allegations, iLearningEngines' share price dropped by $1.70, or 53.3%, closing at $1.49 on August 29, 2024 [4] Company Overview - iLearningEngines operates an AI-driven platform for learning and is based in Bethesda, Maryland [2] - The company has been accused of running nearly all its revenue and expenses through an undisclosed related party, leading to claims of "largely fake" financial reporting [3] Legal Proceedings - Investors who suffered losses can seek to be appointed as lead plaintiff by December 6, 2024 [2] - A lead plaintiff represents the interests of all class members in the litigation process [5]

NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against iLearningEngines, Inc. (“iLearningEngines” or the “Company”) (NASDAQ: AILE) for violations of the federal securities laws on behalf of investors who purchased or acquired iLearningEngines common stock between April 22, 2024 and August 28, 2024, inclusive (the “Class Period”). On October 7, 2024, a complaint was filed ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against iLearningEngines, Inc. due to allegations of securities law violations related to misleading financial statements and undisclosed related party transactions [2][4]. Group 1: Allegations and Financial Misrepresentation - The complaint alleges that iLearningEngines and its executives made false and misleading statements, failing to disclose that their "Technology Partner" was an undisclosed related party [4]. - Hindenburg Research reported that iLearningEngines falsely reported $138 million in revenue from the Indian market in 2022, while the actual revenue was approximately $853,471, indicating a 99.4% overstatement [5]. - The company's share price fell by $1.70, or 53.3%, closing at $1.49 on August 29, 2024, following the release of the Hindenburg report [6]. Group 2: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $75,000 in iLearningEngines between April 22, 2024, and August 28, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - There is a December 6, 2024, deadline for investors to seek the role of lead plaintiff in the federal securities class action against iLearningEngines [2][7]. - Faruqi & Faruqi is also seeking information from whistleblowers, former employees, and shareholders regarding iLearningEngines' conduct [8].

SAN FRANCISCO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- A scathing report from a renowned activist short seller has cast doubt on the financial health and business model of iLearningEngines (NASDAQ: AILE) and given rise to an investor class action. Hagens Berman urges iLearningEngines investors who suffered substantial losses to submit your losses now. Class Period: Apr. 22, 2024 – Aug. 28, 2024Lead Plaintiff Deadline: Dec. 6, 2024 Visit: www.hbsslaw.com/investor-fraud/aileContact the Firm Now: AILE@hbsslaw.com   ...

Core Viewpoint - A class action lawsuit has been filed against iLearningEngines, Inc. for alleged violations of federal securities laws during the specified class period [1][2]. Group 1: Lawsuit Details - The lawsuit seeks to recover damages for all individuals and entities that purchased iLearningEngines securities between April 22, 2024, and August 28, 2024 [2]. - The Complaint alleges that the defendants made materially false and misleading statements and failed to disclose adverse facts about the Company's business and operations [3]. - Specific allegations include the undisclosed related party status of the Company's "Technology Partner," the reporting of "largely fake" revenue and expenses, and the significant overstatement of revenue [3]. Group 2: Next Steps for Investors - Investors who suffered losses in iLearningEngines have until December 6, 2024, to request to be appointed as lead plaintiff in the case [4]. - Participation in any recovery does not require serving as lead plaintiff [4]. Group 3: Legal Representation - The law firm representing the investors operates on a contingency fee basis, meaning they will only seek reimbursement for expenses and fees if successful [5]. - Bronstein, Gewirtz & Grossman, LLC is noted for recovering hundreds of millions of dollars for investors in securities fraud class actions [6].