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 and Details - 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 positive statements made by the defendants regarding the Company's business, operations, and prospects were materially misleading and lacked a reasonable basis [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until December 6, 2024, to request to be appointed as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, and participation does not require serving as a lead plaintiff [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the top securities litigation firms in the United States [4].
Investors in iLearningEngines, Inc. Should Contact Levi & Korsinsky Before December 6, 2024 to Discuss Your Rights – AILE