The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aterian, Inc. (NASDAQ: ATER) who purchased shares between December 1, 2020 and May 3, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Aterian lawsuit alleges that (i) the Company’s organic growth is plummeting; (ii) the Company’s recent, self-lauded acquisitions were overpayments for flawed assets from questionable sources; (iii) Aterian’s purported artificial intelligence software is a flawed product that lacks customer interest; (iv) Aterian uses rebate programs and paid or artificial reviews to pump up their product offerings; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until July 12, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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