Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating potential violations of the federal securities laws by C3.ai Inc. ("C3.ai Inc." or "the Company") (NYSE:AI).
On, February 16, 2022, Spruce Point Capital Management, LLC, a New York-based investment management firm that focuses on forensic research and short-selling, issued a detailed report entitled "Real Intelligence: Sell C3.ai" that outlines why they believe shares of C3.ai, Inc. (NYSE:AI) ("C3.ai" or the "Company") face up to 40% to 50% downside risk, or $12.85 - $15.40 per share.
The report alleges that C3.ai. has a "pattern of exaggerated business claims" as well as "significant" CFO turnover and also discusses the company's reliance on its biggest client Baker Hughes (NASDAQ:BKR).
On this news, C3.ai stock fell 5.4%.
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About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz