iLearningEngines, Inc.
Case Overview
17 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 12/07/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: iLearningEngines, Inc. |
Court: | Court: District of Maryland |
Case Number: | Case Number: 8:24cv02900 |
Class Period: | Class Period: 04/22/2024 - 08/28/2024 |
Ticker: | Ticker: AILE |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Maryland on behalf of those who acquired iLearningEngines, Inc. (“iLearningEngines” or the “Company”) (NASDAQ: AILE) securities during the period of April 22, 2024 through August 28, 2024, inclusive (“the Class Period”). Investors have until December 6, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that iLearningEngines made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (1) iLearningEngines’ “Technology Partner” was an undisclosed related party; (2) the Company used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses; and (3) as a result, iLearningEngines significantly overstated its revenue.
The lawsuit alleges that iLearningEngines made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (1) iLearningEngines’ “Technology Partner” was an undisclosed related party; (2) the Company used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses; and (3) as a result, iLearningEngines significantly overstated its revenue.