Categories: PR Newswire

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Innodata Inc. – INOD

NEW YORK, Feb. 24, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Innodata Inc. (“Innodata” or the “Company”) (NASDAQ: INOD). Such investors are advised to contact Danielle Peyton at or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Innodata and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until April 22, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Innodata securities during the Class Period. A copy of the Complaint can be obtained at

[Click here for information about joining the class action]

On February 15, 2024, Wolfpack Research published a report (the “Wolfpack Report”) revealing that Innodata misrepresented the nature and extent of its business and operations. The Wolfpack Report purported to show that Innodata’s AI is really “smoke and mirrors” and compared the Company’s marketing claims to “putting lipstick on a pig.” Although Innodata touted its ostensible status as an AI pioneer, the Wolfpack Report alleged that other companies were only hiring Innodata for cheap labor and that its operations were powered by thousands of low-wage offshore workers, not proprietary AI technology. The Company also stopped disclosing its Research and Development (R&D) spend after the first quarter of 2021. The Wolfpack Report highlighted that Innodata’s total investment in R&D over the past five years was only $4.4 million, with even less allocated to R&D in 2023 than what the Company spent promoting its “AI” technology through press releases.

On this news, Innodata’s stock price fell $3.74 per share, or 30.5%, to close at $8.52 per share on February 15, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See

Attorney advertising. Prior results do not guarantee similar outcomes.

Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980

View original content to download multimedia:—inod-302070180.html

SOURCE Pomerantz LLP

Dayang Norazhar

Recent Posts

Lexington Partners Announces Dedicated Strategy and Team to Lead Continuation Vehicle Transactions at Scale

– Christophe Browne Joins Lexington Partners Continuation Vehicle Effort Drawing upon the Firm's Experience and…

15 mins ago

PRA Group’s ¡Hola! Employee Resource Group Embraces Hispanic Culture Around the Globe

NORFOLK, Va., May 22, 2024 /PRNewswire/ -- This month, PRA Group (Nasdaq: PRAA), a global…

24 mins ago

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Regeneron Pharmaceuticals, Inc. – REGN

NEW YORK, May 22, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of…

24 mins ago

Banco BBVA Argentina S.A. announces First Quarter 2024 results

BUENOS AIRES, Argentina, May 22, 2024 /PRNewswire/ -- Banco BBVA Argentina S.A (NYSE; BYMA; MAE:…

25 mins ago

Fidelity Investments Canada Closes the Market

TORONTO, May 22, 2024 /PRNewswire/ - Andrew Clee, Vice President, Product at Fidelity Investments Canada…

27 mins ago

29 SHP Student-Athletes Commit to Collegiate Sports

The Gator athletes will go on to play for 25 different colleges ATHERTON, Calif., May…

28 mins ago