March 24, 2026
The leaders of a now-bankrupt artificial intelligence company and its former accounting firm have escaped a lawsuit brought by investors alleging the AI company used so-called round-trip transactions with a business partner to generate false revenue, after a Maryland federal judge found the shareholders have not shown the transactions or the business relationship were improper.
October 08, 2024
Artificial intelligence software company iLearningEngines has been hit with a proposed class action alleging investors were damaged when a short seller report revealed that the company was overstating its Indian revenue by nearly 99% by contracting with a related party to inflate sales.