SAN FRANCISCO, May 10, 2021 (GLOBE NEWSWIRE) – Hagens Berman calls on Aterian, Inc. (NASDAQ: ATER) f / k / a Mohawk Group Holdings (MWK) Investors with significant losses can file their losses now. The company is investigating possible violations of the Securities Act and certain investors may have valuable claims.
Contact an attorney now: [email protected]
Investigation by Aterian, Inc. (NASDAQ: ATER):
The research focuses on what Aterian said about the capabilities and marketability of its alleged end-to-end cloud-based platform Artificial Intelligence Marketplace Ecommerce Engine (AIMEE).
Over the past few quarters, Aterian has touted the functionality of AIMEE, claiming that it will enable users to take advantage of machine learning, natural language processing, and data analysis. Aterian has stated that AIMEE, in turn, enables users to streamline the management of products at scale in the world’s largest online marketplaces, including Amazon, Shopify and Walmart.
On May 4, 2021, analyst Culper Research published a damning report entitled “Aterian (ATER): Bought by Criminals and Fraudsters, Sold to You”. Among other things, Culper accused the company of having connections with convicted criminals, of overwriting its AIMEE platform, and of using “trash acquisitions” to hide its “ill-conceived core business”.
Culper reports that at least 5 former employees and one former customer have expressed doubts about AIMEE’s legitimacy. Culper then concludes: “Aterian is not an artificial intelligence company. It is a reseller of cheap Chinese goods. “Noting that Aterian’s PaaS revenue dropped from $ 1.7 million to just $ 1.3 million in 2019-2020, while AIMEE’s Amazon and Microsoft store offerings did not have ratings of the platform contain.
This news caused the price of Aterian shares to plummet on May 4, 2021.
“We’re focusing on investor losses and whether Aterian has misled investors about the AIMEE platform,” said Reed Kathrein, the Hagens Berman partner who led the investigation.
The story goes on
If you are an Aterian investor and experience significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about Aterian should consider their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
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Reed Kathrein, 844-916-0895