Motion to Dismiss Denied in Part in C3.ai Securities Class-Action Lawsuit

A federal judge on March 12, 2026, granted in part and denied in part the defendants motion to dismiss in a securities class action lawsuit against C3.ai. Judge Gilliam also entered a scheduling order that allows the parties to produce documents and to take fact discovery over the summer and fall of 2026. Plaintiffs intend to seek class certification in November 2026. The litigation focuses on C3.ai senior managements statements about the companys customers leading up to and after the December 2020 initial public offering. Those statements included repeated references to relationships with Baker Hughes and others as supporting expectations of future revenue visibility. The lawsuit alleges defendants made false and misleading statements or failed to disclose that the Baker Hughes partnership was deteriorating, that the company employed a flawed accounting methodology to conceal the partnership status, that the company faced challenges in product adoption, and that the company overstated its investment in technology, description of customers, total addressable market, pace of market growth, and scale of alliances with major business partners.