LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of C3.ai, Inc. (“C3” or “the Company”) (NYSE: AI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. C3 is the subject sent by Kerrisdale Capital (“Kerrisdale”) to the Company’s auditor, Deloitte & Touche on April 4, 2023. The letter alleges “serious accounting and disclosure issues.” The letter further “discuss[ed] the highly conspicuous growth in unbilled receivables to levels we’ve never before seen in software companies. Opaque, confusing and highly concerning disclosures and financials related to the company’s related party and very large customer, Baker Hughes (BKR).” Based on this news, shares of C3 dropped by more than 26.3% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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