C3.ai Investors Advance Claims Over Revenue Accounting for IPO

C3.ai Inc. must face investor claims that it misrepresented revenue from its sales partnership with oil field contractor Baker Hughes in the registration statement for its initial public offering, a federal court ruled.

But the artificial intelligence software company is free of securities fraud claims stemming from sales-related statements after it went public, Judge Haywood S. Gilliam Jr. said Thursday for the US District Court for the Northern District of California. And the investors can’t proceed with pre-IPO claims against Baker Hughes itself as a minority shareholder that allegedly controlled C3.ai’s