HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS Encourages Investors in C3.ai (AI) With Significant Losses to Contact Firm's Attorneys, CFO Out After 3 Months

San Francisco, California--(Newsfile Corp. - March 4, 2022) - Hagens Berman urges C3.ai, Inc. (NYSE: AI) investors with significant losses to submit your losses now. The firm is investigating possible violations of the securities laws.

Visit: www.hbsslaw.com/investor-fraud/AI
Contact An Attorney Now: AI@hbsslaw.com
844-916-0895

C3.ai, Inc. (AI) Investigation:

The investigation focuses on C3.ai's senior management's statements about the company's customers.

More specifically, in the past C3.ai has touted relationships with Baker Hughes and others, claiming those relationships support investor expectations of future revenue visibility.

But, on Feb. 16, 2022, analyst Spruce Point Capital Management published a report entitled "Real Intelligence: Sell C3.ai" concluding the price of C3.ai shares presents a 40% - 50% downside risk.

Spruce Point found multiple instances of claims made by C3.ai that it concluded "appear to be exaggerated, or don't reconcile with our research findings." Among them, Spruce Point alleged, "[g]iven the shifty customer definition disclosures, we see a high probability C3 is overstating paying and active customers."

Spruce Point also focused on C3.ai's accounting related to unbilled receivables and concluded "[s]uspiciously, the rise in unbilled receivables may have given C3.ai a 'cookie jar' needed to deliver quarterly revenues above the high end of its guidance."

Then, on Mar. 2, 2022, C3.ai announced without explanation that its CFO (Adeel Manzoor) abruptly resigned after just 3 months on the job.

On Mar. 4, 2022, analysts at Deutsche Bank reportedly threw in the towel, cutting their rating of C3.ai to sell and slashing the price target. Barron's reported that Deutsche Bank is concerned "whether the lack of stability in top management increases risks around financial reporting."

These events have driven the price of C3.ai shares sharply lower.

"We're focused on investors' losses and whether C3.ai lied about its paying and active customers and engaged in accounting fraud," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in C3.ai, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding C3.ai should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email AI@hbsslaw.com.

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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895

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