San Francisco, Calif .– (Newsfile Corp. – June 18, 2021) – Hagens Berman urges Aterian, Inc. (NASDAQ: ATER) f / k / a Mohawk Group Holdings (MWK) investors with significant losses to file their losses now.
Course period: December 1st, 2020 – May 3rd, 2021
Lead plaintiff deadline: July 12, 2021
Contact an attorney now: ATER@hbsslaw.com
Aterian, Inc. (NASDAQ: ATER) Securities Fraud Class Action:
The complaint alleges that Aterian falsely touted its core business, recent acquisitions, and functionality of AIMEE – the company’s alleged artificial intelligence platform that enables users to manage products on online marketplaces.
In reality, (1) Aterian’s organic growth is sharply declining, (2) its self-lauded acquisitions have been overpayments for flawed assets from questionable sources, (3) its AIMEE is flawed and lacks customer interest, and (4) it takes advantage of discounts and pays for artificial ratings to improve the product offering.
The truth emerged on May 4, 2021 when analyst Culper Research released a scathing report entitled “Aterian (ATER): Bought By Criminals and Scammers, Sold to You”. Culper accuses the company, among other things, of having connections with convicted criminals, of dubbing its AIMEE platform and of concealing its “poorly thought-out core business” with “garbage acquisitions”.
This news caused the price of Aterian shares to plummet sharply on May 4, 2021.
Recently, on May 18, 2021, Aterian’s Chief Revenue Officer (Tomer Pascal) dumped over $ 1.6 million of his recently transferred shares, even though Aterian’s shares are near YTD lows. This follows Pascal’s dumping over $ 4.9 million of Aterian shares in March 2021.
“We are focusing on investor losses and are proving that Aterian has misled investors about its acquisitions and the AIMEE platform,” said Reed Kathrein, who led the investigation and partner of Hagens Berman.
If you are an Aterian investor and have significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
The story goes on
Whistleblower: Individuals with nonpublic information about Aterian should consider options to assist with the investigation or use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30 percent for each successful SEC recovery. For more information, call Reed Kathrein at 844-916-0895 or send an email to ATER@hbsslaw.com.
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