Innodata Inc.

Ticker: INOD

Class Period Start: 05/09/2019

Class Period End: 02/14/2024

Registration Deadline: 04/22/2024

A securities class action has been filed in the USDC N.J. against Innodata Inc. (INOD) (“Innodata” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Innodata common stock between May 9, 2019 and February 14, 2024, both dates inclusive (the “Class Period”).

 

Innodata is a global data engineering company that purports to be “delivering the promise of AI to many of the world’s most prestigious companies.” The Company states that it provides AI-enabled software platforms and managed services for AI data collection/annotation, AI digital transformation, and industry-specific business processes.

 

The complaint alleges Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that Innodata:

(1) did not have a viable AI technology;

(2) its Goldengate AI platform is a rudimentary software developed by just a handful of employees;

(3) it was not going to utilize AI to any significant degree for new Silicon Valley contracts;

(4) it was not effectively investing in research and development for AI; and

(5) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Innodata’s AI business and development and related financial results, growth, and prospects, thereby harming investors.

 

 If you purchased Innodata common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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