ROSEN, A LEADING GLOBAL LAW FIRM, Encourages Investors of iLearningEngines, Inc. to Inquire About Securities Class Action Investigations – AILE

New York, New York–(Newsfile Corp. – September 15, 2024) – WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities class action claims on behalf of shareholders of iLearningEngines, Inc. (NASDAQ: AILE). These claims arise from allegations that iLearningEngines may have provided misleading corporate information to the investing public.

SO WHAT: If you purchased iLearningEngines securities, you may be entitled to compensation without payment of any out-of-pocket costs or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action to recover investors’ losses.

WHAT TO DO: To participate in the potential class action, visit https://rosenlegal.com/submit-form/?case_id=28305 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for class action information.

WHAT IS THIS ABOUT: On August 29, 2024, Hindenburg Research published a report on iLearningEngines titled “iLearningEngines: An Artificial Intelligence SPAC with Artificial Partners and Artificial Revenue.” Hindenburg stated that it suspected that “(iLearningEngine’s) revenue and expenses are largely fake,” and that nearly all of iLearningEngines’ revenue and expenses “appear to be made through an unknown related party, an unnamed ‘technology partner.’” Hindenburg further concluded that it believed iLearningEngines “lied to the SEC” when iLearningEngines told the SEC that the “technology partner” was not a related party.

On this news, iLearningEngines’ stock price fell by $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 attorneys with a track record of leadership roles. Often, companies issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Choose your attorney wisely. Rosen Law Firm represents investors around the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest settlement ever in a securities class action 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 every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the firm secured more than $438 million for investors. In 2020, founder Laurence Rosen was named a Titan of Plaintiffs’ Bar by law360. Many of the firm’s attorneys are recognized by Lawdragon and Super Lawyers.

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To view the source version of this press release, visit https://www.newsfilecorp.com/release/223311