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].
AILE INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that iLearningEngines, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit