| COMPANY |
C3.ai, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
22-cv-01413 |
| JUDGE |
The Honorable Haywood Stirling Gilliam Jr. |
| CLASS PERIOD |
December 09, 2020 - February 15, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
This is a federal securities class action brought on behalf of those who purchased or acquired C3.ai, Inc. (“C3.ai”) (NYSE: AI): (1) Class A common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the C3.ai’s initial public offering conducted on December 9, 2020 (the “IPO” or “Offering”); and/or (2) securities between December 9, 2020 and February 15, 2022, both dates inclusive (the “Class Period”)
The complaint alleges that in the Offering Documents and throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) C3.ai’s partnership with Baker Hughes was deteriorating; (2) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (3) C3.ai faced challenges in product adoption and significant salesforce turnover; (4) C3.ai overstated, inter alia, the extent of its investment in technology, description of its customers, its TAM, the pace of its market growth, and the scale of alliances with its major business partners; and (5) as a result, C3.ai’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On February 14, 2025, Lead Plaintiff filed a Third Amended Class Action Complaint. On February 25, 2025, the Court issued an Order and Defendants shall file their Motion to Dismiss the Third Amended Class Action Complaint by March 25, 2025. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.