Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Aterian, Inc.
NEW YORK, May 14, 2021 / PRNewswire / – Bernstein Liebhard, a nationally recognized investor rights law firm, has announced that a class action lawsuit has been filed on behalf of investors who have purchased or acquired the securities of Aterian, Inc. (“Aterian” or the “Company”). ) (NASDAQ: ATER) by 1st December 2020 by May 3, 2021 (the “Class Period”). The lawsuit has been filed The United States District Court for the Southern District of new York alleges violations of the Securities Exchange Act of 1934.
If you have purchased Aterian securities and / or would like to discuss your legal rights and options, please visit or contact Aterian Shareholder Class Action Lawsuit Joseph R. Seidman, Jr. toll free at (877) 779-1414 or [email protected]
The complaint alleges that throughout the teaching period, defendants made materially false and misleading statements and / or failed to disclose that: (1) the company’s organic growth is collapsing; (2) The company’s most recent self-lauded acquisitions have been overpayments for defective assets from questionable sources. (3) Aterian’s proposed artificial intelligence software is a flawed product that lacks customer interest. (4) Aterian uses discount programs and paid or artificial reviews to improve its product offering. and (5) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On May 4, 2021Culper Research published a damning report entitled “Aterian (ATER): Bought by Criminals and Scammers, Sold to You”. In the research report, the company was accused of being in and connected with convicted criminals, overriding its AIMEE platform, and using “junk” purchases to hide its “poorly thought out core business”. Culper Research also stated, “Aterian has largely failed to convince other Amazon sellers to pay for its AIMEE AI platform, and at least 5 former employees and one former customer have expressed doubts about AIMEE’s legitimacy.”
In the news, Aterian’s share price fell $ 3.04 per share or approx. 24% in the next two trading days $ 15.72 per share on May 5, 2021, harmful investors.
If you want to appear as the lead plaintiff, you must move the court at the latest July 12, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you have purchased Aterian securities and / or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/aterianinc-ater-shareholder-class-action-lawsuit-fraud-stock-399 / apply / or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or [email protected]
Bernstein Liebhard LLP has been recovering since 1993 $ 3.5 billion for its customers. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s Hot List thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779- 1414. The lawyer responsible for this complaint in the State of Connecticut is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
SOURCE Bernstein Liebhard LLP