The Gross Law Firm issues the following notice to shareholders of Innodata Inc..
Shareholders who purchased shares of INOD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CLASS PERIOD: May 9, 2019 to February 14, 2024
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Innodata did not have a viable AI technology; (2) its Goldengate AI platform, the centerpiece of Innodata's reported AI technology, is a rudimentary software developed by just a handful of employees; (3) it was not going to utilize AI to any significant degree for new Silicon Valley contracts; (4) it was not effectively investing in research and development for AI; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Innodata's AI business and development and related financial results, growth, and prospects
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Innodata did not have a viable AI technology; (2) its Goldengate AI platform, the centerpiece of Innodata's reported AI technology, is a rudimentary software developed by just a handful of employees; (3) it was not going to utilize AI to any significant degree for new Silicon Valley contracts; (4) it was not effectively investing in research and development for AI; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Innodata's AI business and development and related financial results, growth, and prospects
DEADLINE: April 22, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/innodata-loss-submission-form/?id=67900&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of INOD during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 22, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes
Prior results do not guarantee similar outcomes
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: [email protected]Phone: (646) 453-8903
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