Levi & Korsinsky Announces the Filing of a Securities Class Action on Behalf of iLearningEngines, Inc.(AILE) Shareholders

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in iLearningEngines, Inc. ("iLearningEngines" or the "Company") (NASDAQ: AILE) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of iLearningEngines investors who were adversely affected by alleged securities fraud between April 22, 2024 and August 28, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/ilearningengines-lawsuit-submission-form?prid=111420&wire=4

AILE investors may also contact Joseph E. Levi, Esq. via email
at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company's "Technology Partner" was an undisclosed related party; (2) the Company used its undisclosed related party Technology Partner to report "largely fake" revenue and expenses; (3) as a result of the foregoing, the Company significantly overstated its revenue; and (4) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT'S NEXT? If you suffered a loss in iLearningEngines during the relevant time frame, you have until December 6, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com 
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

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SOURCE Levi & Korsinsky, LLP