NEW ORLEANS–(BUSINESS WIRE)–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into C3.ai, Inc. (“C3” or the “Company”) (NYSE: AI).
In December 2020, the Company went public, completing its Initial Public Offering, touting throughout the process the Company’s relationships with technology leaders, including Baker Hughes, and its “large and rapidly growing…market,” among other things. Then, on February 22, 2022, Spruce Point Capital Management reported that it had uncovered “[e]vidence of a severely challenged partnership with Baker Hughes, a related party and C3.ai’s largest customer” and “[s]igns of problematic financial reporting and accounting regarding the Baker Hughes joint venture and a revolving door in C3.ai’s Chief Financial Officer position.”
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
KSF’s investigation is focusing on whether C3’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of C3 shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ai/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
