BENSALEM, Pa., Oct. 29, 2024 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
iLearningEngines, Inc. (NASDAQ: AILE)
Class Period: April 22, 2024 – August 28, 2024
Lead Plaintiff Deadline: December 6, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s “Technology Partner” was an undisclosed related party; (2) that the Company used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses; (3) that, as a result of the foregoing, the Company significantly overstated its revenue; and (4) that, 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.
Iris Energy Limited (NASDAQ: IREN)
Class Period: June 20, 2023 – July 11, 2024
Lead Plaintiff Deadline: December 6, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants overstated Iris Energy’s prospects with data centers and high performance computing, in large part as a result of material deficiencies in Iris Energy’s Childress County, Texas site; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Edwards Lifesciences Corporation (NYSE: EW)
Class Period: February 6, 2024 – July 24, 2024
Lead Plaintiff Deadline: December 13, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company did not possess reliable information pertaining to projected revenue outlook and anticipated growth; (2) the Company’s growth was at risk of decelerating; (3) the Company’s “patient activation activities” failed to reach the perceived low-treatment-rate population TAVR’s growth relied upon obtaining; (4) the Company overstated hospital desire to continue to utilize the Company’s TAVR procedures over newer, innovative structural heart therapies; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Xiao-I Corporation (NASDAQ: AIXI)
Class Period: March 9, 2023 – July 12, 2024
Lead Plaintiff Deadline: December 16, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants had downplayed the true scope and severity of risks that Xiao-I faced due to certain of its Chinese shareholders’ non-compliance with Circular 37 Registration, including the Company’s inability to use Offering proceeds for intended business purposes; (2) Xiao-I failed to comply with GAAP in preparing its financial statements; (3) Defendants overstated Xiao-I’s efforts to remediate material weaknesses in the Company’s financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company’s business and financial results; (6) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; (7) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ’s Minimum Bid Price Requirement; and (8) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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