Innodata Inc. Sued for Securities Law Violations - Investors Should Contact Levi & Korsinsky for More Information - INOD

NEW YORK, March 27, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Innodata Inc. ("Innodata" or the "Company") (NASDAQ: INOD) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Innodata investors who were adversely affected by alleged securities fraud between May 9, 2019 and February 14, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/innodata-lawsuit-submission-form?prid=72792&wire=4

INOD investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Innodata did not have a viable AI technology; (2) its Goldengate AI platform, the centerpiece of Innodata's reported AI technology, 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.

WHAT'S NEXT? If you suffered a loss in Innodata during the relevant time frame, you have until April 22, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP