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NEW YORK, May 18, 2021 (GLOBE NEWSWIRE) -- announces that a federal securities class action lawsuit been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased or acquired the securities of Aterian, Inc. ("Aterian" or the "Company") (NASDAQ: ATER) (f/k/a Mohawk Group Holdings, Inc.) from December 1, 2020 through May 3, 2021 (the "Class Period"), inclusive.
All investors who purchased shares of Aterian, Inc. and incurred losses are urged to contact the firm immediately at or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or on our website,
If you have incurred losses in your investment in shares of Aterian, Inc. you may, no later than July 12, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact to learn more about your rights as an investor in the shares of Aterian, Inc.
CLICK HERE TO JOIN CASE
On May 4, 2021, Culper Research published a scathing report, entitled "Aterian (ATER): Bought from Felons & Fraudsters, Sold to You." The research report accused the company of associating and having ties to convicted criminals, overhyping its AIMEE platform, and using "garbage" acquisitions to conceal its "ill-conceived core business." Culper Research also stated 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."
On this news, Aterian's stock price fell $3.04 per share, or approximately 24% over the next two trading days to close at $15.72 per share on May 5, 2021.
has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact by telephone at (800) 575-0735, via e-mail at , or visit
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: , or
Tel: (800) 575-0735 or (212) 545-4774
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