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ATERIAN, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Aterian, Inc.

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NEW YORK, July 1, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP 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.

(PRNewsfoto/Wolf Haldenstein Adler Freeman )
(PRNewsfoto/Wolf Haldenstein Adler Freeman )

All investors who purchased shares of Aterian, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

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 Wolf Haldenstein 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.

Wolf Haldenstein 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 Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Cision
Cision

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP