Friday, May 27 2022

NEW YORK, April 29, 2022 (GLOBE NEWSWIRE) — The law firm Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of C3.ai, Inc., Grab Holdings Limited and Volta Inc. Investors have until the deadlines below to apply to the Court to be named lead plaintiff in the lawsuits. Additional information on each case can be found at the links provided below.

C3.ai, Inc. (“C3.ai” or the “Company”) (NYSE: AI)

Course period: December 9, 2020 to February 15, 2022
Pending Court: United States District Court for the Northern District of California
Lead Applicant Deadline: May 3, 2022

The lawsuit alleges that the offering documents issued in connection with the company’s December 2020 IPO were negligently prepared and, as a result, contained misrepresentations of material facts or failed to state other facts necessary to ensure that the statements made are not misleading. The lawsuit further alleges that the company and its executives failed to disclose that: (i) C3.ai’s partnership with Baker Hughes was deteriorating; (ii) C3.ai used faulty accounting methodology to conceal the deterioration of its partnership with Baker Hughes; (iii) C3.ai faced product adoption challenges and high sales force turnover; (iv) the Company exaggerated, among other things, the extent of its investments in technology, the description of its customers, its total addressable market, the rate of growth of its market and the extent of alliances with its main commercial partners .

For more information on the C3.ai trial, please visit this website.

Grab Holdings Limited (“Grab Holdings” or the “Company”) (NASDAQ: GRAB, GRABW)

Course period: August 2, 2021 to March 3, 2022
Pending Court: United States District Court for the Southern District of New York
Lead Applicant Deadline: May 16, 2022

The lawsuit alleges that throughout the class period, the defendants (the company and certain executives) failed to disclose to investors: (1) that Grab Holdings’ driver supply declined during the third quarter; (2) that, as a result, Grab Holdings continued to invest heavily in driver and consumer incentives to “preemptively recalibrate the driver supply”; and (3) that, as a result, the Company’s financial results would be adversely affected, including, among other things, a material decline in revenues.

For more information on the Grab Holdings lawsuits, please visit this website.

Volta Inc. (“Volta” or the “Company”) (NYSE: owl)

Course period: August 2, 2021 to March 28, 2022
Pending Court: United States District Court for the Northern District of California
Lead Applicant Deadline: May 31, 2022

The lawsuit alleges that: (1) Volta incorrectly accounted for restricted stock units issued in connection with its business combination in August 2021 with a SPAC, thereby understating its net loss for the third quarter of 2021; (2) there were material weaknesses in the Company’s internal control over financial reporting that resulted in a material error; and (3) as a result of the foregoing, the Company would restate its financial statements and the founders of the Company would leave the Company imminently.

For more information on the Volta trial, please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based law firm specializing in securities, antitrust, whistleblower and consumer litigation. The company’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional company information is available on the Kirby McInerney website: www.kmllp.com.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.

contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com

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