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Submit Your Information for the iLearningEngines Lawsuit

Lead Plaintiff Deadline is December 6, 2024.

If you purchased or acquired iLearningEngines securities between April 22, 2024 and August 28, 2024, please contact Berger Montague using the form below.

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About the Case

The complaint in this class action alleges that throughout the Class Period, Defendants failed to disclose to investors: (1) that the Company’s “Technology Partner” was an undisclosed related party; and (2) that the Company used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses.

On August 29, 2024, before the market opened, Hindenburg Research published a report titled “iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue.” In its report, Hindenburg alleged that nearly all of the Company’s revenue and expenses in 2022 and 2023 were run through an undisclosed related party. The report further alleged that iLearningEngines used its undisclosed related party relationship to report revenue and expenses that are “largely fake” and that the company falsely reported $138 million in revenue from the Indian market in 2022, when total revenue was, in fact 99.4% less than what iLearningEngines claimed.

On this news, the Company’s share price fell $1.70 per share, or 53.3%, to close at $1.49 per share on August 29, 2024.

Investors who purchased or acquired iLearningEngines securities between April 22, 2024 and August 28, 2024, may no later than December 6, 2024, seek to be appointed as a lead plaintiff representative of the class.