iLearningEngines Further Responds To Short Report; Says " Formed A Special Committee Consisting Of Independent Directors To Investigate Allegations Raised Recently By A Short-Seller Report. The Special Committee Has Engaged Legal Counsel From Paul Hastings To Conduct An Independent Investigation At The Behest And Exclusive Direction Of The Special Committee"
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iLearningEngines, Inc. (NASDAQ:AILE) has formed a Special Committee of independent directors to investigate allegations from a short-seller report. The committee has engaged Paul Hastings LLP for an independent investigation, despite past clean audit opinions.
September 05, 2024 | 7:34 pm
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iLearningEngines has formed a Special Committee to investigate allegations from a short-seller report, engaging Paul Hastings LLP for an independent investigation. This move aims to reassure shareholders despite past clean audits.
The formation of a Special Committee to investigate short-seller allegations suggests potential issues that could negatively impact investor confidence in the short term. Although past audits were clean, the need for an independent investigation may raise concerns.
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