iLearningEngines Issues Statement on Short Seller Report

Rhea-AI Summary

iLearningEngines (NASDAQ: AILE), an AI-powered learning and work automation leader, has issued a statement responding to a short seller report published on August 29, 2024. The company asserts that the report contains misleading statements, speculations, and innuendos. iLearningEngines emphasizes that the report's authors have disclosed their short position in AILE stock and stand to profit from a decline in share price.

The company highlights that the report explicitly states it makes no representation regarding the accuracy, timeliness, or completeness of its content. iLearningEngines plans to provide a more detailed response in the coming days and affirms its commitment to executing its business plan without being distracted by what it terms as typical short seller tactics.

Positive

• Company plans to provide a detailed response to the short seller report
• Management remains focused on executing the business plan

Negative

• Short seller report may negatively impact AILE stock price
• Allegations in the report could potentially harm investor confidence

BETHESDA, Md., Aug. 29, 2024 (GLOBE NEWSWIRE) -- iLearningEngines, Inc. (NASDAQ: AILE) (“iLearningEngines” or “ILE”) a leader in AI-powered learning and work automation for enterprises, today issued the following statement in response to claims made in a short seller report issued on August 29, 2024:

Today a report was published that made a number of allegations regarding our business and reporting. The party that published the report has disclosed that they are short shares of ILE. They are known for these types of attacks, and this one is clearly designed to secure a profit from a decline in ILE’s stock price at the expense of ILE’s investors. The report states that it makes “no representation” as to the “accuracy, timeliness or completeness” of the information contained therein, and that investors should assume that the author of the report “stands to realize significant gains” in the event our stock price moves.

We have reviewed the full report and believe it contains misleading statements, speculations and innuendos. We intend to respond in the coming days. We remain focused on executing our business plan and will not be distracted by typical short seller tactics.

About iLearningEngines

iLearningEngines (Nasdaq: AILE) is a leading Applied AI platform for learning and work automation. iLearningEngines enables Enterprises to rapidly productize and deploy a wide range of AI applications and use cases (AI Engines) at scale.

iLearningEngines is powered by proprietary vertical specific AI models and data with a flexible No Code AI canvas to drive rapid out-of-the-box deployment while offering low latency and high levels of data security and compliance.

Serving over 1,000 enterprise end customers, iLearningEngines is deployed globally into some of the most demanding vertical markets including Healthcare, Education, Insurance, Retail, Energy, Manufacturing and Public Sector to achieve mission critical outcomes.

For more information about iLearningEngines, please visit: www.ilearningengines.com.

IR & Press Contacts:
Investor Contact:
Kevin Hunt, ICR Inc.
iLearningEnginesIR@icrinc.com

Press Contact:
Dan Brennan, ICR Inc.
iLearningPR@icrinc.com

FAQ

What is iLearningEngines' response to the short seller report published on August 29, 2024?

iLearningEngines (AILE) stated that the report contains misleading statements, speculations, and innuendos. The company plans to provide a detailed response in the coming days and remains focused on executing its business plan.

How does iLearningEngines characterize the motives behind the short seller report?

iLearningEngines suggests that the report is designed to profit from a decline in AILE's stock price at the expense of investors. The company describes it as a typical short seller tactic.

What disclaimers did the short seller report include, according to iLearningEngines?

According to iLearningEngines, the report states that it makes no representation as to the accuracy, timeliness, or completeness of the information contained within it. It also discloses that the authors stand to realize significant gains if AILE's stock price declines.

When does iLearningEngines (AILE) plan to issue a more detailed response to the short seller allegations?

iLearningEngines states that it intends to respond to the short seller allegations in the coming days, following its review of the full report.