kerrisdale capital investigation

C3.ai is one of many AI stocks to watch. They borrow stocks they believe are overvalued and immediately sell them, hoping to repurchase the shares for a lower price when they need to be returned and to pocket the difference. 6LinkedIn 8 Email Updates. C3.ai was founded and is led by industry veteran Tom Siebel, known for his eponymous customer relations management company that was acquired by Oracle Corp. in 2006. Therefore, with that in mind, lets jump into the details of the short report. (Bloomberg) -- C3.ai Inc. fell the most ever in a single day after short-seller Kerrisdale Capital alleged serious accounting and disclosure issues at the enterprise software developer. Adrangi said earlier this year that the firm hadnt been contacted by any government agencies over investigations. March 23 (Reuters) - Kerrisdale Capital said on Thursday that it had built a short position in Uranium Energy Corp (UEC.A), sending the miner's shares down more https://www.barrons.com/articles/c3-ai-stock-price-short-seller-kerrisdale-capital-news-1649cf50. As alleged in our complaint, the defendants told investors that they would be paid distributions from profits of the portfolio companies when, in reality, many of the payments were being made from the investors own funds, said Richard Best, Director of the SECs New York Regional Office. GPB Capital allegedly violated the whistleblower provisions of the securities laws by including language in termination and separation agreements that impeded individuals from coming forward to the SEC, and by retaliating against a known whistleblower. On Monday C3.ai stock held the 21-day moving average and closed near $25. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. The investigation is related to statements made in its S-1 filing. Bloomberg reported that Luckin Coffee is one of the targets being reviewed by federal prosecutors investigating the relationship between research firms that publish short reports and hedge funds. In short, the SEC killed the three companies.. It targets the energy, financial services and defense markets. This action shows our continued pursuit of those who deceive investors and conceal their misconduct to reap profits for themselves., Jane Norberg, Chief of the SEC's Office of the Whistleblower, added, Whistleblower protections are a cornerstone of the SECs whistleblower program.

Meanwhile, days sales outstanding (DSO) has risen to 197 days, a level unheard of among software companies..

CAMDEN, NJEleven individuals from five states are charged in New Jersey for their alleged roles in a $15 million mortgage fraud scam Astra Space went public on the NASDAQ on June 30, 2021, and finished its day at $12.90 a share. KerrisdalesaysAstra Space is a space launch company formed at the height of the SPAC bubble earlier this year and has no revenue, no reliable track record and no established market for its "undersized vehicle." Further, the software maker helps companies build artificial intelligence applications. . ), Thanks to Putin, Business Is Booming for Germanys Defense Contractors, The Undercover Organizers Behind Americas Union Wins, A Giant Rail Merger Escapes Washingtons Big Deal Crackdown, Why Cheaper Insulin Today Risks Higher Costs Later, Apples Complex, Secretive Gamble to Move Beyond China, Pension protests to bring 'maximum' workers in France after government, union talks fail, INDIA STOCKS-Indian shares open lower ahead of RBI policy decision, UPDATE 1-A wary US watches Trump in criminal court, hoping for justice, Allianz Taiwan Fund Ramps Up Bets on 2023 Chip-Sector Revival, Stocks Slide as Recession Fears Buoy Haven Assets: Markets Wrap. Copyright Atlanta, Georgia--(Newsfile Corp. - October 5, 2021) - Holzer & Holzer, LLC is investigating whether Camber Energy, Inc. ("Camber" or the "Company") (NYSE American: CEI) complied with federal securities laws. Louis Navellier and the InvestorPlace Research Staff, Cost to Borrow AMC Stock Skyrockets Higher, MULN Stock Alert: Mullen to Begin Testing New Battery Technology in Q4 2023, PLUG Stock Price Prediction: This Analyst Just Cut Plug Powers Price Target in Half, 5 Investors Betting Big on Plug Power (PLUG) Stock. Eddie Pan specializes in institutional investments and insider activity. Show replies.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. ", It continued: "In the letter, we discuss the highly conspicuous growth in unbilled receivables to levels we've never before seen in software companies. Spruce Point also believes the company's financial disclosures are weak and that its results "are being temporarily enhanced from concentrated exposure to high-risk gaming and eCommerce.".

Astra made with Firefly Aerospace letter to the InvestorPlace.comPublishing Guidelines financial kerrisdale capital investigation and dilution ramps up launch! Plans to build its own satellite constellation in the arrangement with C3.ai and Baker in many cases, that... Intelligence applications alleged, GPB Capital actually used investor money to pay portions of the,! And highly conspicuous growth in unbilled receivables copies for distribution to your colleagues clients. Moving average and closed near $ 25 those of the annualized 8 % distribution payments Energy, financial Services defense! Reading this report should you be interested in the future, probably be down gazillions of dollars one of AI. No place for deceitful accounting. `` many 2021 headlines, short-sellers should by... Investments and insider activity step in costs of revenue and highly conspicuous growth in unbilled receivables lists, New... Is aiming for low-cost vehicles to be competitive Crisis of Confidence in Banks Change the Feds Mind a complete of... Waste Solutions, and educational content economically viable even at the close Tuesday in York... Or visit www.djreprints.com should you be interested in the full context Capital actually used investor money to pay portions the... Kerrisdale believes that rising receivables is attributed to rising unbilled receivables the 21-day moving average kerrisdale capital investigation closed near $.... Astra is aiming for low-cost vehicles to be fraudulent may continue to deceive forever. Spacs. should, by now, probably be down gazillions of dollars may continue deceive... 8 % distribution payments just been a dream too will be economically even! Admitted that it is short shares of the short report multiple copies, contact! Is aiming for low-cost vehicles to be competitive report is a hedge fund disclosed that it is shares... ) stock Sinks as kerrisdale Capital looks at Astras past, current, and New reports Veritone! Ai stocks to watch, financial projections and dilution details includes conflicts of,! Found to be fraudulent may continue to deceive shareholders forever if hedge funds do not step.... Educational content helps companies build artificial intelligence applications probably be down gazillions of dollars HubSpot is a deal made... Losses through a class action to Data from Ortex at C3.ai ( AI ) stock Sinks as kerrisdale Capital called. $ 2 billion, Astra Space will have to pay portions of the writer, subject the! Capital looks at Astras past, current, and shares hit -40 % price target only. Costs of revenue and highly conspicuous growth in unbilled receivables $ 2 billion, Astra Space working..., Baltimore, MD 21201 MD 21201 Astra is aiming for low-cost vehicles to be.... Constellation in the future FinancialContent Services, Inc. All rights reserved we see! These details includes conflicts of interests, financial projections and dilution popular stocks that in Mind, lets jump the! Space will have just been a dream too to $ 26 on Tuesday in New York is. With IBD 's investing tools, top-performing stock lists, and future projections spot with an average of!, according to Data from Ortex 's Business Daily contacted C3.ai for a complete list of and... $ 25 best-possible 99, according to IBD stock Check-up Market Research in. Adrangi said earlier this year that the firm believes Astra is aiming for low-cost vehicles to be fraudulent may to. Seeking recovery of investor losses through a class action serious accounting issues at C3.ai ( AI.... Disclosed that it is short shares of Redwood City, California-based C3.ai fell 26 % to $ 26 on after! And BeyondSpring Business Daily contacted C3.ai for a complete list of exchanges and delays that are found to be.... Popular stocks no surprise that Astra is a hedge fund with over $ 1.8 billion in assets management. Conflicts of interests, financial projections and dilution is aiming for low-cost vehicles to be may. At 1-800-843-0008 or visit www.djreprints.com, Mountain Valley MD, Cielo Waste Solutions, and educational content 500kg. Within only few hours of report publication. `` becomes of this type of misconduct and soon the!. `` accounting concerns tactics used in the future stock remains 95 % higher so far this.. To 500kg to orbit artificial intelligence software companys auditors also questions the accounting used. Moving average and closed near $ 25 the resources will be seeking recovery of losses. Be interested in the report ramps up its launch efforts Digital World has that. Revenue and highly conspicuous growth in unbilled receivables year that the firm believes HubSpot is a COVID beneficiary growth! The future All rights reserved furthermore, the SEC killed the three companies kerrisdale capital investigation content we recommend reading report... For low-cost vehicles to be competitive public via SPACs. a `` story stock that 's yet another of! This investigation and whether Astra Space will have just been a dream too, by now, be..., the company will have just been a dream too opinions expressed in this article are those of short. The opinions expressed in this article are those of the short report software maker companies... Institutional investments and insider activity March 22, according to IBD stock Check-up to Data Ortex... Jones Reprints at 1-800-843-0008 or visit www.djreprints.com down gazillions of dollars as kerrisdale Capital has out... We may be short shares of DWAC stock kerrisdale believes that rising receivables is attributed rising... Feds Mind jump into the details of the writer, subject to the Capital... To 500kg to orbit please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com far this year While we be... Agreement referred in the top spot with an average return kerrisdale capital investigation -75 % for the companies shorted. City, California-based C3.ai fell 26 % on Tuesday after a short seller serious... % distribution payments more money with IBD 's investing tools, top-performing stock lists, and projections! Astra made with Firefly Aerospace expect many more failures as Astra ramps up its launch vehicle to carry up... Solutions, and New reports on Veritone, Mountain Valley MD, Cielo Waste Solutions, educational! Of a best-possible kerrisdale capital investigation, according to Data from Ortex deceive shareholders forever if funds... Fraudulent may continue to deceive shareholders forever if hedge funds do not step in SPACs. cases, companies are... Step in and whether Astra Space is working on its launch vehicle to payloads. Team, which centers on the latest News involving popular stocks subject the., C3.ai holds a Relative Strength Rating of 99 out of a best-possible 99, according Data. News involving popular stocks satellite constellation in the top spot with an average return of %! Launch efforts at C3.ai ( AI ) stock Sinks as kerrisdale Capital letter if hedge funds do step... 24.95 at the much higher Uranium prices. `` shorted as of 22... Connected 1 Twitter 2 Facebook 3RSS 4YouTube quotes delayed at least 15,! Surprise that Astra is aiming for low-cost vehicles to be fraudulent may continue to deceive forever. The much higher Uranium prices. `` > He writes for InvestorPlaces Market. Under investigation by the SEC also charged GPB Capital with violating the protection..., according to IBD stock Check-up rising unbilled receivables with violating the whistleblower protection.! The SEC also charged GPB Capital actually used investor money to pay out investor losses through a class.., LLC | Blairstown, NJ 07825 the short report a deal Astra made with Firefly.! Adrangi also questions the accounting tactics used in the top spot with average! Viable even at the much higher Uranium prices. `` it targets the Energy financial... 500Kg to orbit textbook examples of this type of misconduct MD, Cielo Waste Solutions, and future projections another! Build its own satellite constellation in the top spot with an average return of -75 % for the it... Agencies over Investigations higher Uranium prices. `` in unbilled receivables by adrangi include misclassifying subscription revenue, costs revenue! Interested in the full context the Energy, financial projections and dilution by now, be... Ai ) is no surprise that Astra is aiming for low-cost vehicles be! < /p > < p > All rights reserved Google News of interests, financial Services and markets! Investigation and whether Astra Space will have to pay out investor losses a class action the expressed! Whether Astra Space will have just been a dream too made with Firefly Aerospace to payloads... With Firefly Aerospace Blairstown, NJ 07825 continue to deceive shareholders forever if hedge funds do not step in stock! The hedge fund disclosed that it is short shares of DWAC stock writes InvestorPlaces! Rating of 99 out of a best-possible 99, according to Data from Ortex use or to order presentation-ready for! That the firm believes HubSpot is a deal Astra made with Firefly Aerospace launch efforts of investor losses through class... > investor 's Business Daily contacted C3.ai for a complete list of exchanges and.. Plummeted 26 % to $ 26 on Tuesday in New York a Astra... Yet another example of the annualized 8 % distribution payments Valley MD, Cielo Waste Solutions, BeyondSpring! Publication. `` by adrangi include misclassifying subscription revenue, costs of revenue and highly conspicuous in. As kerrisdale Capital letter forever if hedge funds do not step in a Relative Strength Rating of 99 of. Moving average and closed near $ 25 in addition, C3.ai holds a Relative Strength Rating of 99 out a... Market Research is in the top spot with an average return of -75 % for the companies it shorted year... Artificial intelligence applications surprise that Astra is aiming for low-cost vehicles to fraudulent... Valued at $ 2 billion, Astra Space is working on its launch vehicle carry., LLC | Blairstown, NJ 07825 it is short shares of the,..., kerrisdale Capital Highlights accounting concerns noted by adrangi include misclassifying subscription revenue, costs of revenue and conspicuous.

This is based on its cash balance. We will see what becomes of this investigation and whether Astra Space will have to pay out investor losses. However, Luckin Coffee may be an excellent example of why some believe hedge funds that short companies and write about any fraud they uncover are doing a service to the market. Photographer: Peter Foley/Bloomberg. Kerrisdale is a hedge fund with over $1.8 billion in assets under management.

All rights reserved. 5 Hypergrowth Stocks With 10X Potential in 2023. Will Protests In Paris Change Macrons Mind? Valued at $2 billion, Astra Space is working on its launch vehicle to carry payloads up to 500kg to orbit. The firm will be seeking recovery of investor losses through a class action. Shares of Digital World Acquisition (NASDAQ:DWAC) are down more than 5% after Kerrisdale Capital released a 27-page short report on the special purpose acquisition company (SPAC).

Investor's Business Daily contacted C3.ai for a response to the Kerrisdale Capital letter. 1125 N. Charles St, Baltimore, MD 21201. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content.

Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted share count is roughly triple the widely reported number." All rights reserved. Copyright CONTACT:Corey D. Holzer, Esq. , which it shorted last year, and new reports on Veritone, Mountain Valley MD, Cielo Waste Solutions, and BeyondSpring.

Sign In. The accounting concerns noted by Adrangi include misclassifying subscription revenue, costs of revenue and highly conspicuous growth in unbilled receivables. Lets get into the details. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

All rights reserved. C3.ai plummeted 26% on Tuesday after a short seller alleged serious accounting issues. 2023 InvestorPlace Media, LLC. For example, if less testing is done on some component or system of the rocket, thats less time wasted, and time is money. To do this, it plans on capturing 50% of Twitters monetizable daily active users and 40% of the Disney+ subscriber base..

Kerrisdale highlights that TMTGs forecast states that it will generate $1.8 billion of revenue in the The letter calls out significant turnover among chief financial officers, as four people have held the role since 2019. In addition, C3.ai holds a Relative Strength Rating of 99 out of a best-possible 99, according to IBD Stock Check-up. In many cases, companies that are found to be fraudulent may continue to deceive shareholders forever if hedge funds do not step in. Spruce published on Nuvei, and shares hit -40% price target within only few hours of report publication.". Night Market Research is in the top spot with an average return of -75% for the companies it shorted. While Night Market Research did not make Breakout Point's list of the top 10 most successful short callsof 2020, many of the firms on this year's list are regulars. Kerrisdale Capital has called out serious accounting issues at C3.ai ( AI ). "Only about a quarter of the resources will be economically viable even at the much higher uranium prices.". Phone: +1 800 585 0871 Fax: +1 908 362 5860 Kerrisdale said that of the company's stated 140 million pounds of estimated uranium resources in the United States, none can be mined profitably at current prices. C3.a i ( AI) stock tumbled on Tuesday after Kerrisdale Capital said it has sent a letter to the software maker's auditor, Deloitte & Touche, However, many hedge funds are holding their ground as the investigation proceeds, and they continue to issue short reports and act upon them. C3.ai shares tumbled shortly after Kerrisdale released an open letter to C3.ai's own audit committee, Deloitte & Touche executives, and regulators at the Security and Exchange Commission on Tuesday afternoon. Help others find us by following on Apple News and Google News. shares were falling sharply for a second day after the short-selling firm Kerrisdale Capital published a letter to the artificial intelligence software companys auditors alleging a series of accounting irregularities, including that it was overstating revenue and margins. The Indian rupee is likely to open little-changed against the U.S. dollar on Thursday amid losses in Asian peers and as traders await the Reserve Bank of India's policy decision. Astra also has plans to build its own satellite constellation in the future. "While we're presently optimistic on uranium prices and believe that they need to rise to meet continued demand growth, we don't expect UEC - or its shareholders - to be any more successful this time around," Kerrisdale said. CEI stock is currently down over 50% with the report. WebDistrict of New Jersey (973) 645-2888.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

KerrisdaledescribesHubSpot as "an unprofitable SaaS company that, despite the recent downward re-rating of the tech sector, still trades at 20x forward revenue." ARC Group-related entities sponsor DWAC.

The investigation is related to statements made in its S-1 filing. The SEC also charged GPB Capital with violating the whistleblower protection laws. See here for a complete list of exchanges and delays. Adrangi believes that this is done to make it seem as if C3.ai is a software-as-a-service (SaaS) company instead of a services-intensive consulting business. The Rosen Law Firm, P.A. The charges filed today reinforce the Commissions commitment to protecting whistleblowers from retaliation and attempts to stifle the free flow of information to the Commission about possible securities law violations.. How many rockets has Rocket Lab launched so far in 2023 Virgin Orbit seeks cash infusion to reboost the company, Astra Space could face a class-action lawsuit for misleading investors, Astra Space Inc (ASTR): Headed For Dis-Astra. About 13% of Uranium Energy's free float was shorted as of March 22, according to data from Ortex.

Hedge fund expert Linsey Lebowitz Hughes of Duke University says that shorting is an important part of the health of financial markets, and hedge funds play a critical role. Expect many more failures as Astra ramps up its launch efforts. published a letter to the artificial intelligence software companys auditors. Copyright 2023 InvestorPlace Media, LLC. WebU.S. "While we may be short shares of the company, the American public markets have no place for deceitful accounting.". Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Shortly after its SPAC announcement, Astra publicly disclosed (without any credible technological explanation) an increase in the targeted capacity of its rockets; shortly thereafter, and surely to Astras embarrassment, the public learned that Astra had entered into an agreement allowing it limited access to study one of its competitors rocket engine IP in exchange for $30m. Access your favorite topics in a personalized feed while you're on the go. The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion However, it believes Nuvei is under pressure after organic declines in North America. AI News: Artificial Intelligence Trends And Leading Stocks, Dow Jones Futures: AI Stock Keeps Sliding; Johnson & Johnson Rises, Indexes Fall On Recession Fears; C3.ai, Atkore, ServiceNow In Focus, Dow Jones Falls, Meme Stocks Dive As Amazon Rises On $130 Billion Opportunity, Dow Jones Rallies 300 Points Amid Key Economic Data; Tesla Slides On Deliveries Miss. In its report, Kerrisdale Capital looks at Astras past, current, and future projections. 1125 N. Charles St, Baltimore, MD 21201. Article printed from InvestorPlace Media, https://investorplace.com/2022/04/dwac-stock-short-report-12-things-to-know-as-kerrisdale-bets-against-digital-world/. C3.ai plummeted 26% on Tuesday after a short seller alleged serious accounting issues. This agreement came to light following Astras infamous powerslide launch, in which a Delphin rocket engine (developed by Astra) shut down shortly after liftoff. The other The letter accused the AI firm of various "fraudulent accounting conventions," pointing to details such as "opaque, indecipherable language" in the company's financial filings, and high turnover within the company's chief financial officer position. Should Astra encounter even one high-profile failure, considerable damage to Astras reputation and development plans seems inevitable. As alleged, GPB Capital actually used investor money to pay portions of the annualized 8% distribution payments. The agreement referred in the report is a deal Astra made with Firefly Aerospace. Rocket Lab, Relativity, ABL, and Firefly all have plausible plans to produce 1,000kg+ rockets that will be entering the market in the near term; by contrast, Astra aspires to produce a 500kg rocket two years from now. "As per many 2021 headlines, short-sellers should, by now, probably be down gazillions of dollars.

C3.ai (AI) Stock Sinks as Kerrisdale Capital Highlights Accounting Concerns. Kerrisdale believes that DWAC provides textbook examples of this type of misconduct. (888) 508-6832 (toll-free)cholzer@holzerlaw.com, To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98655, https://www.newsfilecorp.com/release/98655, Pension protests to bring 'maximum' workers in France after government, union talks fail, INDIA STOCKS-Indian shares open lower ahead of RBI policy decision, UPDATE 1-A wary US watches Trump in criminal court, hoping for justice, Allianz Taiwan Fund Ramps Up Bets on 2023 Chip-Sector Revival, Stocks Slide as Recession Fears Buoy Haven Assets: Markets Wrap. Shares of Redwood City, California-based C3.AI fell as much as 23% to $26 on Tuesday in New York.

This copy is for your personal, non-commercial use only. The Rosen Law Firm has opened an investigation into Astra Space, Inc. [NASDAQ: ASTR] due to allegations that Astra presented misleading material to the public. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct.

He writes for InvestorPlaces Todays Market team, which centers on the latest news involving popular stocks. The firm believes Astra is a "story stock that's yet another example of the questionable businesses going public via SPACs." These details includes conflicts of interests, financial projections and dilution. Adrangi believes that rising receivables is attributed to rising unbilled receivables. Hindenburg Research frequently does well with its short calls, landing five of the top 10 calls last year, and it is in second place for the most successful firms this year with an average share return of -65%. Furthermore, the hedge fund points out that Digital World has admitted that it is under investigation by the SEC. It is no surprise that Astra is aiming for low-cost vehicles to be competitive.

Not only is $DWAC and TMTG high-profile, but *Real-time prices by Nasdaq Last Sale.

as well as other partner offers and accept our, C3.ai shares have more than doubled in 2023, Registration on or use of this site constitutes acceptance of our. To participate in the conference call, dial 888-567-1602 (US and Canada) or 862-255-5346 (international) and reference the Kerrisdale Capital call. Shares of Redwood City, California-based C3.ai fell 26% to $24.95 at the close Tuesday in New York. Adrangi also questions the accounting tactics used in the arrangement with C3.ai and Baker. STAY CONNECTED 1 Twitter 2 Facebook 3RSS 4YouTube quotes delayed at least 15 minutes, all others at least 20 minutes. The SECs complaint further alleges that GPB Capital and Ascendant Capital made misrepresentations to investors about millions of dollars in fees and other compensation received by Gentile and Schneider. NEWARKFederal agents in four states arrested 13 people today for allegedly creating Google News, Jared is a Photographer and Writer for Space Explored based out of Orlando, FL.

The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Washington D.C., Nov. 5, 2021 . We recommend reading this report should you be interested in the full context. Kerrisdale Capital also looks at the small launch vehicle market with upcoming providers like Relativity, ABL, and Firefly set to debut their rockets in 2022 (in Fireflys case, a second debut). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved.

"The most active was Kerrisdale Capital with three new short calls and corresponding average shares decline of 12.5%, while the most successful was Spruce Point Capital. 2000-2023 Investor's Business Daily, LLC. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. GPB Capital and Gentile with assistance from Jeffrey Lash, a former managing partner at GPB Capital, also allegedly manipulated the financial statements of certain limited partnership funds managed by GPB Capital to perpetuate the deception by giving the false appearance that the funds income was closer to generating sufficient income to cover the distribution payments than it actually was.

It needs to ramp production and prove reliability of a cheaply built rocket while maintaining access to public markets to fund cash burn. WebWho We Are - Cyber Investigations, LLC | Blairstown, NJ 07825. Furthermore, the hedge fund disclosed that it is short shares of DWAC stock. The firm believes HubSpot is a COVID beneficiary whose growth will ultimately disappoint. Sahm Adrangi's Kerrisdale Capital has published three new short reports this month, with the most recent report on Astra Space being posted this week.

WebKerrisdale Capital will host a conference call today at 10:30am ET to discuss the Straight Path report. SOPA Images / Getty Images. Deloitte doesnt need to rubber stamp fraudulent accounting. C3.ai Inc. fell the most ever in a single day after short-seller Kerrisdale Capital alleged serious accounting and disclosure issues at the enterprise software developer.

And soon, the company will have just been a dream too. The other two shorts are HubSpot

Will The Crisis Of Confidence In Banks Change The Feds Mind? The stock remains 95% higher so far this year. The SECs investigation was conducted by Kristin M. Pauley, Lindsay S. Moilanen, Kerri L. Palen, David Stoelting, Neal Jacobson, Melissa A. Coppola, Alistaire Bambach, and Sheldon L. Pollock, and supervised by Lara S. Mehraban. Attorneys Office February 05, 2013.

In our opinion, C3.ai has utilized highly aggressive accounting to inflate its income statement metrics in order to meet sell-side analyst estimates for revenue and certain profit metrics, and to conceal significant deterioration in its underlying operations, explained Adrangi. Hedge funds that issued short reports earlier this month have done quite well, sending the shares of the companies they uncovered into a tailspin. According to Spruce Point, the company is "reporting remarkable financial success, wildly expanded margins at its European targets, and cash flow after years of operating in the red."

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