C3.ai Inc. misled investors about how its founder-CEO’s health problems were affecting the artificial intelligence company’s bottom line before a recent financial report and ensuing 26% stock drop, a shareholder alleges.
C3.ai, CEO Thomas Siebel, and Chief Financial Officer Hitesh Lath made positive public statements while failing to disclose that Siebel’s autoimmune condition “was having a significant impact on the Company’s ability to close deals, that its management was unable or otherwise ineffectual in minimizing that impact, and that C3 AI would not be able to execute upon its profit and growth potential as a result,” John Liggett Sr. says. ...
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