Johnson Fistel launches investigation

SAN DIEGO, Aug. 29, 2024 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP is investigating whether iLearningEngines, Inc. (NASDAQ: AILE) or any of its officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation is focused on investors’ losses and whether they can be recovered under the federal securities laws.

What happens once I have purchased? iLearningEngines Securities? If you have purchased securities and suffered losses on your investment, join our investigation now:

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Or contact Jim Baker for more information at [email protected] or (619) 814-4471.

There are no costs or obligations to you.

What does Johnson Fistula examine? On August 27, 2024, Hindenburg Research published a report on iLearningEngines highlighting a number of concerns about the company’s operations. According to the report, in November 2023, prior to the IPO, the SEC inquired whether the “technology partner” was a related party. The company responded that it was not.

Hindenburg further states that “Technology Partner” is a UAE-based company called Experion Technologies, identified through documents related to a debt transaction. We believe this company is an undisclosed related party, suggesting that iLearningEngines misled the SEC. According to a 2020 web capture, the American contact for Experion was listed as the CEO of iLearningEngines. In addition, a 2022 web capture showed that Experion’s American address is the private residence of iLearningEngines’ CEO.

Following this news, the company’s share price fell 46% in pre-market trading on August 29, 2024.

What if I have relevant non-public information? Persons with nonpublic information about the Company should consider assisting with our investigation or utilizing the SEC Whistleblower Program. Under the SEC Program, whistleblowers who provide original information may, under certain circumstances, receive rewards of up to thirty percent of any successful SEC recovery. For more information, contact Jim Baker at (619) 814-4471 or [email protected].

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia and Colorado. The firm represents individual and institutional investors in shareholder class action lawsuits involving derivatives and securities. For more information about the firm and its attorneys, visit http://www.johnsonfistel.com.

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Contact:
Johnson Fistula, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
[email protected] or [email protected]