Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of iLearningEngines, Inc. (NASDAQ: AILE) regarding a class action lawsuit due to allegations of misleading statements and undisclosed related party transactions during a specified class period [1][3]. Group 1: Allegations and Class Period - The class period for the allegations is from April 22, 2024, to August 28, 2024 [3]. - 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 [3]. - As a result of these actions, the company significantly overstated its revenue, and the defendants' positive statements about the company's business were materially misleading [3]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiff [4]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [4]. - Participation in the case incurs no cost or obligation for the shareholders [4]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered due to deceit, fraud, and illegal business practices [5]. - The firm is committed to ensuring companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [5].
iLearningEngines, Inc. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before December 6, 2024 to Discuss Your Rights – AILE