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AI.US
id: 231
On August 31, 2022, C3.ai released financial results and unexpectedly announced a business model change " transitioning from a subscription model to a consumption-based pricing model".
Furthermore, the Management significantly cut the company's guidance, projecting full-year revenue in a range of $255 million to $275 million, down from its previous range of $308 million to $316 million.
On this news, the price of C3.ai stocks declined more than 19%, and the Company lost about $ 365 million of its capitalization on September 01, 2022, seriously damaging its investors.
Given the rather unexpected developments and forecasts, there are grounds for suspicions that the Company's management did not conduct business in good faith and allowed gaps in informing its shareholders.
Case Status
Inactive Investigation
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08/31/2022
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