AI company iLearningEngines investigated by law firms for alleged financial statement discrepancies and potential misleading of investors.
iLearningEngines, an AI company, faces an investigation by law firms Rosen Law Firm, Hagens Berman, and Bronstein, Gewirtz & Grossman, over allegations by Hindenburg Research that the company's financial statements may not adhere to accounting rules, and that its revenues and expenses might be "largely fake". The firms are investigating whether the company misled investors about its business prospects and financial reporting, following a significant drop in the company's share price after the Hindenburg Research report was released. iLearningEngines has denied the allegations.
August 29, 2024
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