Innodata
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The lawsuit alleges that Innodata made false and misleading statements about its AI technology and business operations. According to a report by Wolfpack Research published on February 15, 2024, Innodata misrepresented its AI capabilities and relied on cheap labor rather than advanced technology. The company’s actual investment in research and development was minimal, contradicting their claims of being an AI pioneer. The lawsuit claims that Innodata falsely represented the nature of its AI technology, its investment in R&D, and its potential for future contracts. As a result of these allegations, Innodata’s stock price dropped by 30.5% on the day the report was released.
