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].
Shareholders of iLearningEngines, Inc. Should Contact The Gross Law Firm Before December 6, 2024 to Discuss Your Rights - AILE