Aterian, Inc. (ATER)


ATERIAN DEADLINE ALERT

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Aterian To Contact Him Directly To Discuss Their Options

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Aterian, Inc. (“Aterian” or the “Company”) (NASDAQ: ATER) and reminds investors of the July 12, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $50,000 investing in Aterian stock or options between December 1, 2020 and May 3, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner James Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company’s organic growth is plummeting; (2) the Company’s recent, self-lauded acquisitions were overpayments for flawed assets from questionable sources; (3) Aterian’s purported artificial intelligence software is a flawed product that lacks customer interest; (4) Aterian uses rebate programs and paid or artificial reviews to pump up their product offerings; (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 4, 2021, Culper Research published a scathing report entitled: “Aterian (ATER): Bought from Felons & Fraudsters, Sold to You.” In this report, Culper wrote that: “the Company has ties to convicted criminals and is promoting what we believe is an over-hyped ‘AI’ narrative and a string of garbage acquisitions to mask the failure of its already ill-conceived core business.” 

Culper continued that: “Aterian has been largely unsuccessful in convincing other Amazon sellers to pay for its ‘AIMEE’ AI platform, and at least 5 former employees and a former customer have expressed doubts regarding AIMEE’s legitimacy."

Culper further wrote: “[w]e believe that there are serious problems with Aterian’s claims to maintain strong organic growth and to drive M&A synergies: to us, neither of these appears to be the case. . . . In our view, this suggests not only that Aterian is unable to growth EBITDA at acquired businesses, but that its core business is also failing to produce.”

On this news, the price of Aterian stock fell from its May 3, 2021 close of $20.66 to a May 5, 2021 close of $15.72 per share, a two-day drop of $4.94 per share or approximately 24%.

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Aterian, Inc. (ATER)

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Details

Filed on 05/26/2021

Ticker NASDAQ: ATER

Lead Plaintiff Deadline 07/12/2021

18 days remaining

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Robert W. Killorin rkillorin@faruqilaw.com Phone (404) 847-0617 Fax (404) 506-9534

James M. Wilson, Jr. jwilson@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

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685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

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10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Wilmington, Delaware

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania