iLearningEngines Faces Class Action Lawsuit Over Alleged Financial Misrepresentation

AILE Class Action Notice: Robbins LLP Reminds Investors of the Pending Lead Plaintiff Deadline in the Class Action Against iLearningEngines, Inc. - iLearningEngines (NASDAQ:AILE)

SAN DIEGO, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities who purchased or otherwise acquired iLearningEngines, Inc. AILE securities between April 22, 2024 and August 28, 2024. iLearningEngines purports to be an "AI-powered learning automation" software company. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that iLearningEngines, Inc. (AILE) Misled Investors Regarding its Business Prospects According to the complaint, on August 29, 2024, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines' claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024. Plaintiff alleges that defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; and (3) that, as a result of the foregoing, the Company significantly overstated its revenue. What Now: You may be eligible to participate in the class action against iLearningEngines, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 6, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against iLearningEngines, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a06e2060-25d5-4fe5-acc4-4906e5599561 Market News and Data brought to you by Benzinga APIs

Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Filed Against iLearningEngines, Inc. - iLearningEngines (NASDAQ:AILE)

SAN DIEGO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities who purchased or otherwise acquired iLearningEngines, Inc. AILE securities between April 22, 2024 and August 28, 2024. iLearningEngines purports to be an "AI-powered learning automation" software company. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that iLearningEngines, Inc. (AILE) Misled Investors Regarding its Business Prospects According to the complaint, on August 29, 2024, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines' claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024. Plaintiff alleges that defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; and (3) that, as a result of the foregoing, the Company significantly overstated its revenue. What Now: You may be eligible to participate in the class action against iLearningEngines, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 6, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against iLearningEngines, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a06e2060-25d5-4fe5-acc4-4906e5599561 Market News and Data brought to you by Benzinga APIs

AILE Investors Have Opportunity to Lead iLearningEngines, Inc. Securities Fraud Lawsuit

NEW YORK, Oct. 12, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of iLearningEngines, Inc. (NASDAQ: AILE) between April 22, 2024 and August 28, 2024. Shareholders who want to serve as a lead plaintiff for the class must file their motions with the court by December 6, 2024. So What: If you purchased iLearningEngines securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. What to do next: To join the iLearningEngines class action, go to https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. What is this about: On August 29, 2024, Hindenburg Research issued a report on iLearningEngines entitled, "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners And Artificial Revenue." Hindenburg stated it suspected the "[iLearningEngine's] revenue and expenses are largely fake," and nearly all iLearningEngines revenue and expenses "seem to be run through an undisclosed related party, an unnamed 'Technology Partner'" Further, Hindenburg concluded its belief iLearningEngines had "lied to the SEC" when iLearningEngines told the SEC "Technology Partner" was not a related party. On this news, iLearningEngines' stock fell $1.70 per share, or 53.3%, to close at $1.49 per share on August 29, 2024. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome.

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of iLearningEngines - iLearningEngines (NASDAQ:AILE)

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In iLearningEngines To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in iLearningEngines between April 22, 2024 and August 28, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against iLearningEngines, Inc. ("iLearningEngines" or the "Company") AILE and reminds investors of the December 6, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that (1) the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On August 29, 2024, before the market opened, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024, on unusually heavy trading volume. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding iLearningEngines' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the iLearningEngines class action, go to www.faruqilaw.com/AILE or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/db92af7b-73c0-4f26-8d09-3baad4994c52 Market News and Data brought to you by Benzinga APIs

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of iLearningEngines, Inc. (AILE) Investors - iLearningEngines (NASDAQ:AILE)

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired iLearningEngines, Inc. ("iLearningEngines" or the "Company") AILE securities between April 22, 2024 and August 28, 2024, inclusive (the "Class Period"). iLearningEngines investors have until December 9, 2024, to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On August 29, 2024, before the market opened, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines' claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased iLearningEngines securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241008649712/en/ Market News and Data brought to you by Benzinga APIs

iLearningEngines (AILE) Accused of Securities Fraud - Hagens Berman - iLearningEngines (NASDAQ:AILE)

SAN FRANCISCO, Oct. 10, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, a leading artificial intelligence company, is under fire after a securities fraud class action lawsuit was filed against it in the U.S. District Court for the District of Maryland. Hagens Berman urges iLearningEngines, Inc. AILE investors who suffered substantial losses to submit your losses now. Class Period: Apr. 22, 2024 - Aug. 28, 2024 Lead Plaintiff Deadline: Dec. 6, 2024 Visit: www.hbsslaw.com/investor-fraud/aile Contact the Firm Now: AILE@hbsslaw.com 844-916-0895 Class Action Lawsuit Against iLearningEngines, Inc. (AILE): The suit, brought on behalf of investors who purchased iLearningEngines securities between April 22 and August 28, 2024, alleges that the company and its executives engaged in a scheme to inflate the company's revenue through undisclosed related-party transactions. According to the complaint, iLearningEngines used its undisclosed related party, referred to as the "Technology Partner," to report "largely fake" revenue and expenses. The suit claims that the company's positive statements about its business, operations, and prospects were materially misleading. The fraud allegedly came to light on August 29, 2024, when Hindenburg Research published a scathing report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million. Hindenburg's investigation identified the "Technology Partner" as Experion Technologies, whose American contact is iLearningEngines' CEO, Harish Chidambaran. The report noted that Experion's American address is also Chidambaran's, leading to allegations that prior representations to the SEC and investors, which claimed the "Technology Partner" was not a related party, were false. Following the report, the company's stock price plummeted by over 50%. Hagens Berman, a prominent shareholder rights firm, has launched an investigation. "We are looking into whether iLearningEngines may have misled investors about its business prospects and its financial reporting," said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in iLearningEngines and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now " If you'd like more information and answers to frequently asked questions about the iLearningEngines case and our investigation, read more " Whistleblowers: Persons with non-public information regarding iLearningEngines 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. For more information, call Reed Kathrein at 844-916-0895 or email AILE@hbsslaw.com. About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. Reed Kathrein, 844-916-0895 Market News and Data brought to you by Benzinga APIs

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of iLearningEngines, Inc. (AILE) Investors - iLearningEngines (NASDAQ:AILE)

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased iLearningEngines, Inc. ("iLearningEngines" or the "Company") AILE securities between April 22, 2024 and August 28, 2024, inclusive (the "Class Period"). iLearningEngines investors have until December 6, 2024 to file a lead plaintiff motion. Investors suffering losses on their iLearningEngines investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On August 29, 2024, before the market opened, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines' claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you purchased iLearningEngines securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241007586156/en/ Market News and Data brought to you by Benzinga APIs

iLearningEngines (AILE) Accused of Securities Fraud - Hagens Berman - iLearningEngines (NASDAQ:AILE)

SAN FRANCISCO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, a leading artificial intelligence company, is under fire after a securities fraud class action lawsuit was filed against it in the U.S. District Court for the District of Maryland. Hagens Berman urges iLearningEngines, Inc. AILE investors who suffered substantial losses to submit your losses now. Class Period: Apr. 22, 2024 - Aug. 28, 2024 Lead Plaintiff Deadline: Dec. 6, 2024 Visit: www.hbsslaw.com/investor-fraud/aile Contact the Firm Now: AILE@hbsslaw.com 844-916-0895 Class Action Lawsuit Against iLearningEngines, Inc. (AILE): The suit, brought on behalf of investors who purchased iLearningEngines securities between April 22 and August 28, 2024, alleges that the company and its executives engaged in a scheme to inflate the company's revenue through undisclosed related-party transactions. According to the complaint, iLearningEngines used its undisclosed related party, referred to as the "Technology Partner," to report "largely fake" revenue and expenses. The suit claims that the company's positive statements about its business, operations, and prospects were materially misleading. The fraud allegedly came to light on August 29, 2024, when Hindenburg Research published a scathing report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million. Hindenburg's investigation identified the "Technology Partner" as Experion Technologies, whose American contact is iLearningEngines' CEO, Harish Chidambaran. The report noted that Experion's American address is also Chidambaran's, leading to allegations that prior representations to the SEC and investors, which claimed the "Technology Partner" was not a related party, were false. Following the report, the company's stock price plummeted by over 50%. Hagens Berman, a prominent shareholder rights firm, has launched an investigation. "We are looking into whether iLearningEngines may have misled investors about its business prospects and its financial reporting," said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in iLearningEngines and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now " If you'd like more information and answers to frequently asked questions about the iLearningEngines case and our investigation, read more " Whistleblowers: Persons with non-public information regarding iLearningEngines 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. For more information, call Reed Kathrein at 844-916-0895 or email AILE@hbsslaw.com. About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. Reed Kathrein, 844-916-0895 Market News and Data brought to you by Benzinga APIs

iLEARNINGENGINES ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against iLearningEngines, Inc. and Encourages Investors to Contact the Firm - iLearningEngines (NASDAQ:AILE)

NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against iLearningEngines, Inc. ("iLearningEngines" or the "Company") AILE in the United States District Court for the District of Maryland on behalf of all persons and entities who purchased or otherwise acquired iLearningEngines securities between April 22, 2024 and August 28, 2024, both dates inclusive (the "Class Period"). Investors have until December 6, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On August 29, 2024, before the market opened, Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all of the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, when in reality, total revenue was, in fact, approximately $853,471.00, or 99.4% less than what iLearningEngines claimed in revenue in the country that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's "Technology Partner" was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you purchased or otherwise acquired iLearningEngines shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com Market News and Data brought to you by Benzinga APIs

LearningEngines, Inc. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the District of Maryland against LearningEngines, Inc.

NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) -- - Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Maryland on behalf of persons and entities that purchased or otherwise acquired iLearningEngines, Inc. ("iLearningEngines" or the "Company") AILE securities between April 22, 2024 and August 28, 2024, inclusive (the "Class Period"). CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com. On August 29, 2024, pre-market. Hindenburg Research published a report titled "iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners and Artificial Revenue." In its report, Hindenburg Research alleged that nearly all the Company's revenue and expenses in 2022 and 2023 were run through an undisclosed related party, which the Company refers to as their "Technology Partner." Hindenburg Research further alleged that iLearningEngines uses its undisclosed related party relationship to report revenue and expenses that are "largely fake." Among other things, Hindenburg Research alleged that the Company used its undisclosed related party relationship with this Technology Partner to falsely report $138 million in revenue from the Indian market in 2022, In reality, total revenue was approximately $853,471, or 99.4% less than what iLearningEngines had claimed as revenue in the country for that period. On this news, the Company's share price fell $1.70 or 53.3%, to close at $1.49 on August 29, 2024. If you have incurred losses, you may, no later than December 6, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights. Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com. Contact: Wolf Haldenstein Adler Freeman & Herz LLP Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774 This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Market News and Data brought to you by Benzinga APIs