iLearningEngines (AILE) Crashes After Company Places CFO on Leave, Auditor Withdraws Opinions, SEC Subpoenas Company - Hagens Berman
iLearningEngines, Inc.iLearningEngines, Inc.(US:AILE) GlobeNewswire News Room·2024-11-18 22:45

SAN FRANCISCO, Nov. 18, 2024 (GLOBE NEWSWIRE) --  The price of iLearningEngines (NASDAQ: AILE) shares crashed over 30% lower on November 18, 2024 after announcing that (i) the company had placed CFO S. Farhan Naqvi on administrative leave effective immediately, (ii) its outside auditor had withdrawn its prior opinions, (iii) investors should no longer rely on previously-filed financial statements, and (iv) the SEC had subpoenaed the company seeking various documents and information. The company’s recent ann ...