Investigation into Securities Violations
LOS ANGELES, Sept. 13, 2024 — The Schall Law Firm, a national shareholder rights litigation firm, is conducting an investigation into claims on behalf of investors of iLearningEngines, Inc. (“iLearningEngines” or “the Company”) AILE for potential violations of securities laws.
Falling Shares and Allegations
The focal point of the investigation is whether the Company made false or misleading statements or omitted crucial information relevant to investors. iLearningEngines came under scrutiny following a report by Hundenburg Research, shedding light on dubious accounting practices and corporate governance.
Questionable Financials and Impact
The report alleged that a significant portion of iLearningEngines’ reported revenue was non-existent, citing a mysterious ‘Technology Partner’ as a conduit for financial misrepresentations. Consequently, on August 29, 2024, the Company’s shares plummeted by nearly 60% in response to this revelation.
Possible Shareholder Recourse
If you are a shareholder who incurred losses, you are encouraged to engage with The Schall Law Firm to explore potential avenues for participation in the investigation.
We also recommend reaching out to Brian Schall of the Schall Law Firm in Los Angeles to discuss your rights at no cost. The law firm specializes in representing investors across the globe in securities class action lawsuits and shareholder rights litigation.
Contact Information
For more information, you can contact The Schall Law Firm and Brian Schall, Esq. at 310-301-3335 or visit their website at www.schallfirm.com.
This press release should not be construed as Attorney Advertising under the relevant laws in certain jurisdictions.
Source: The Schall Law Firm
