According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- iLearningEngines’ “Technology Partner” was an undisclosed related party;
- iLearningEngines used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses;
- as a result of the foregoing, iLearningEngines significantly overstated its revenue; and
- as a result of the foregoing, defendants’ positive statements about iLearningEngines’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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