iLearningEngines Investors Have Opportunity to Participate in Securities Fraud Lawsuit

NEW YORK, Oct. 12, 2024 — 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.

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If you purchased iLearningEngines securities, you may be eligible for compensation without incurring any out-of-pocket fees or costs through a contingency fee arrangement. Rosen Law Firm is preparing a class action lawsuit seeking recovery of investor losses.

To join the iLearningEngines class action, visit or call Phillip Kim, Esq. toll-free at 866-767-3653 or email for information about 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.

On August 29, 2024, Hindenburg Research released a report on iLearningEngines titled, “iLearningEngines: An Artificial Intelligence SPAC With Artificial Partners And Artificial Revenue.” Hindenburg expressed suspicions that “[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’” Additionally, Hindenburg concluded that iLearningEngines had “lied to the SEC” when iLearningEngines informed the SEC that “Technology Partner” was not a related party.

Following this news, iLearningEngines’ stock price dropped $1.70 per share, or 53.3%, to close at $1.49 per share on August 29, 2024.

We encourage investors to select qualified legal counsel with a proven track record of success in leadership roles. Often, firms issuing notices lack comparable experience, resources, or meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Choose your legal representation wisely. Rosen Law Firm represents investors worldwide, focusing its practice on securities class actions and shareholder derivative litigation. Rosen Law Firm 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 the number of securities class action settlements in 2017. The firm has consistently 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 recognized by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been acknowledged by Lawdragon and Super Lawyers.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
     
     

SOURCE THE ROSEN LAW FIRM, P. A.

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