C3.ai, Inc. (AI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of C3.ai, Inc. (“C3 ai” or “the Company”) (NYSE: AI). Investors who purchased C3 ai securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether C3 ai has violated federal securities laws.
On April 4, 2023, Kerrisdale Capital (“Kerrisdale”) 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 stock price fell $8.92 per share, or 26.34%, to close at $24.95 per share on April 4, 2023. Then, on September 6, 2023, C3.ai issued a press release announcing the Company’s financial results for its fiscal first quarter 2024. Among other items, C3.ai stated that it would not be profitable on a non-GAAP basis by the end of fiscal year 2024 as it had previously planned. On this news, C3.ai’s stock price fell $3.85 per share, or 12.24%, to close at $27.61 per share on September 7, 2023.
If you are aware of any facts relating to this investigation or purchased C3 ai securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | [email protected]