The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of C3.ai, Inc. (NYSE: AI) who purchased (a) Class A common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about December 9, 2020; and/or (b) securities between December 9, 2020 and February 15, 2022, both dates inclusive. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
(i) C3.ai’s partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 3, 2022 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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