{"id":79156,"date":"2024-04-20T23:02:04","date_gmt":"2024-04-20T23:02:04","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/inod-2-day-deadline-alert-hagens-berman-national-trial-attorneys-encourages-innodata-inc-inod-investors-with-substantial-losses-to-contact-firm-before-apr-22nd-deadline-in-securities-fraud-clas\/"},"modified":"2024-04-20T23:02:04","modified_gmt":"2024-04-20T23:02:04","slug":"inod-2-day-deadline-alert-hagens-berman-national-trial-attorneys-encourages-innodata-inc-inod-investors-with-substantial-losses-to-contact-firm-before-apr-22nd-deadline-in-securities-fraud-clas","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/inod-2-day-deadline-alert-hagens-berman-national-trial-attorneys-encourages-innodata-inc-inod-investors-with-substantial-losses-to-contact-firm-before-apr-22nd-deadline-in-securities-fraud-clas\/","title":{"rendered":"INOD 2-DAY DEADLINE ALERT: Hagens Berman, National Trial Attorneys, Encourages Innodata Inc. (INOD) Investors with Substantial Losses to Contact Firm Before Apr. 22nd Deadline in Securities Fraud Class Action"},"content":{"rendered":"
\n

SAN FRANCISCO, April 20, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Innodata Inc. (NASDAQ: INOD)<\/strong> investors who suffered substantial losses to submit your losses now<\/a>.<\/p>\n

Class Period: <\/strong>May 9, 2019 \u2013 Feb. 14, 2024
Lead Plaintiff Deadline: <\/strong>Apr. 22, 2024
Visit:<\/strong> www.hbsslaw.com\/investor-fraud\/inod<\/a>
Contact An Attorney Now:<\/strong> INOD@hbsslaw.com<\/a>
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0844-916-0895<\/strong><\/p>\n

Innodata Inc. (INOD) Securities Fraud Class Action: <\/strong><\/p>\n

The litigation challenges Innodata\u2019s claims about its AI technology and Goldengate platform, which the company calls a \u201cproprietary, state-of-the-art\u201d \u201ccore AI technology stack.\u201d<\/p>\n

The complaint alleges that Innodata misrepresented and failed to disclose that: (1) Innodata 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; and (4) it was not effectively investing in research and development for AI.<\/p>\n

The truth emerged on Feb. 15, 2024, when activist short seller Wolfpack Research<\/em> published a report, \u201cExposing INOD\u2019s \u2018Smoke and Mirrors\u2019 AI,\u201d concluding that IPOD \u201cis a manually data-entry business driven by offshore labor, not innovation.\u201d<\/p>\n

Wolfpack<\/em> observed that Innodata\u2019s business is \u201cdeteriorating,\u201d and reported that a former employee said about the company\u2019s claims concerning AI that \u201cmanagement was \u2018putting lipstick on a pig.\u2019\u201d Wolfpack<\/em> said that, while Innodata purports to be supporting generative AI with four of the five biggest tech companies in the world, \u201c[w]e think this is grossly misleading; INOD has a large offshore labor force that specializes in basic data annotation, what a former high-level employee has described as \u2018banging away on keyboards.\u2019\u201d<\/p>\n

As to Goldengate, Wolfpack <\/em>said, \u201cour analysis indicates Goldengate is a rudimentary software developed by just a handful of employees\u201d and \u201ca former employee told us that potential customers would trial Goldengate for free, but these trials didn\u2019t convert to sales because results were horrible.\u201d<\/p>\n

This news sent the price of Innodata shares crashing 30% lower on Feb. 15, 2024.<\/p>\n

\u201cWe\u2019re investigating whether Innodata may have made false and misleading claims about the use of AI in their platforms,\u201d said Reed Kathrein, the Hagens Berman partner leading the firm\u2019s investigation.<\/p>\n

If you invested in Innodata and have substantial losses, or have knowledge that may assist the firm\u2019s investigation, submit your losses now<\/a> \u00bb<\/p>\n

If you\u2019d like more information and answers to frequently asked questions about the Innodata case and our investigation, read more<\/a> \u00bb<\/p>\n

Whistleblowers: <\/strong>Persons with non-public information regarding Innodata should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895<\/strong> or email INOD@hbsslaw.com<\/a>.<\/p>\n

About Hagens Berman<\/a>
Hagens Berman is a global plaintiffs\u2019 rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at\u00a0hbsslaw.com<\/a>. Follow the firm for updates and news at\u00a0@ClassActionLaw<\/a>.\u00a0<\/p>\n

Attorney advertising.<\/strong>
Past results do not guarantee future outcomes.<\/strong>
Services may be performed by attorneys in any of our offices<\/strong>.\u00a0<\/p>\n

Contact: <\/u>
Reed Kathrein, 844-916-0895<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, April 20, 2024 (GLOBE NEWSWIRE) — Hagens Berman urges Innodata Inc. (NASDAQ: INOD) investors who suffered substantial losses to submit your losses now. Class Period: May 9, 2019 \u2013 Feb. 14, 2024Lead Plaintiff Deadline: Apr. 22, 2024Visit: www.hbsslaw.com\/investor-fraud\/inod Contact An Attorney Now: INOD@hbsslaw.com \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":79157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/51670c91-d369-4a8c-8102-d393de9f6d19","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-79156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/79156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=79156"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/79156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/79157"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=79156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=79156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=79156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}