Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired C3.ai, Inc. (“C3.ai”) (NYSE: AI) (1) Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Documents”) issued in connection with C3.ai’s initial public offering (“IPO”) on or about December 9, 2020; and/or (2) securities between December 9, 2020 and February 15, 2022, inclusive (the “Class Period”).
The complaint alleges that, in the Offering Documents and throughout the Class Period, 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 March 25, 2025, Defendants filed a Motion to Dismiss Plaintiffs Amended Complaint. The Motion has been fully briefed and is pending a decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.