C3.ai Leaders Sued By Investors Over Baker Hughes Claims (1)

Current and former leaders of C3.ai Inc. face a new shareholder lawsuit for allegedly misleading investors about the artificial intelligence company’s relationship with oil field contractor Baker Hughes Co.

The derivative lawsuit, filed Tuesday in the US District for the Northern District of California, alleges investors weren’t told that C3’s partnership with Baker Hughes “was falling apart.” The suit also claims C3’s growth projections were unrealistic.

Various insiders made over $751 million combined from improper stock sales while knowing C3’s share price was inflated following its 2020 initial public offering, the suit said. The lawsuit seeks damages for the company ...