Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 06, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a lawsuit was filed on behalf of investors that purchased Innodata, Inc. (NASDAQ: INOD between May 9, 2019 and February 14, 2024, inclusive, (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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