An investor in iLearningEngines Inc. decided to stop pursuing a lawsuit alleging the artificial intelligence platform’s executives relied on an undisclosed related party to report fake revenue numbers.
Matthew Whitfield moved to voluntarily dismiss his case without prejudice on Thursday, according to a notice filed in the US District Court for the District of Maryland. Whitfield sued iLearningEngines and its executives in January 2025, alleging the company’s share prices plummeted more than 53% after Hindenburg Research published a report revealing its reported revenue and expenses were “largely fake.”
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