NEW YORK, Nov. 04, 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/ilea ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased iLearningEngines, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline on December 6, 2024 [1]. Group 1: Class Action Details - Investors who bought iLearningEngines securities between April 22, 2024, and August 28, 2024, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by visiting the provided link or contacting the firm directly [3][6]. - To serve as lead plaintiff, individuals must file a motion with the Court by December 6, 2024 [3]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked No. 1 for securities class action settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, highlighting the firm's expertise and reputation [4]. Group 3: Case Allegations - The lawsuit alleges that during the Class Period, iLearningEngines made false and misleading statements, including the undisclosed relationship with its "Technology Partner" [5]. - It is claimed that iLearningEngines reported "largely fake" revenue and expenses, significantly overstating its revenue [5]. - The misleading statements about the company's business and prospects led to investor damages when the true details were revealed [5].

Core Viewpoint - The Gross Law Firm is notifying shareholders of iLearningEngines, Inc. (NASDAQ: AILE) regarding 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 [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, which resulted in misleading positive statements about its business and prospects [1]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially become lead plaintiffs [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit, fraud, and illegal business practices [3]. - The firm is committed to ensuring companies engage in responsible business practices and good corporate citizenship [3]. - The firm seeks recovery for investors who suffered losses due to false or misleading statements that artificially inflated stock prices [3].