NEW YORK, April 05, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., is investigating claims of violations of federal securities laws on behalf of investors of C3.ai, Inc. (“C3.ai” or the “Company”) (NYSE: AI).
The investigation concerns whether C3.ai and certain of its officers and directors have engaged in violation of securities laws and/or other business practices.
On April 4, 2023, Kerrisdale Capital sent a letter to C3.ai's auditor, Deloitte & Touche, alleging "serious accounting and disclosure issues." Kerrisdale's letter "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)."
On this news, C3.ai's price fell $8.92 per share, or 26.34%, to close at $24.95 per share on April 3, 2023.
If you suffered loss in C3.ai and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at email@example.com or firstname.lastname@example.org.
Whistleblowers: Persons with non-public information regarding C3.ai should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.