PR Newswire | May 14, 2021 09:36AM EDT

Recover Losses Due to Alleged Securities Fraud

05/14 08:36 CDT

ATER INVESTORS ACT NOW: Contact HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, to Recover Losses Due to Alleged Securities Fraud SAN FRANCISCO, May 14, 2021

SAN FRANCISCO, May 14, 2021 /PRNewswire/ -- Hagens Berman urges Aterian, Inc. (NASDAQ: ATER) f/k/a Mohawk Group Holdings (MWK)investors with significant losses to submit your losses now. A securities fraud class action is pending and certain investors may have valuable claims.

Class Period:Dec. 1, 2020 - May 3, 2021Lead Plaintiff Deadline:July 12, 2021Visit:www.hbsslaw.com/investor-fraud/ATERContact An Attorney Now:ATER@hbsslaw.com844-916-0895

Aterian, Inc. (NASDAQ: ATER) Securities Fraud Class Action:

The complaint alleges that Aterian falsely touted its core business, recent acquisitions, and the functionality of AIMEE - the company's purported artificial intelligence platform that allows users to manage products on online marketplaces.

In reality, (1) Aterian's organic growth is plummeting, (2) its self-lauded acquisitions were overpayments for flawed assets from questionable sources, (3) its AIMEE is flawed and lacks customer interest, and (4) it uses rebates and pays for artificial reviews to pump up product offerings.

The truth emerged on May 4, 2021, when analyst Culper Researchpublished a scathing report entitled "Aterian (ATER): Bought from Felons & Fraudsters, Sold to You." Among other things, Culperaccuses the company of having ties to convicted criminals, overhyping its AIMEE platform, and using "garbage acquisitions" to conceal its "ill-conceived core business."

This news drove the price of Aterian shares crashing sharply lower on May 4, 2021.

"We're focused on investors' losses and proving Aterian misled investors about its acquisitions and the AIMEE platform," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are an Aterian investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers:Persons with non-public information regarding Aterian should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ATER@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact: Reed Kathrein, 844-916-0895

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SOURCE Hagens Berman Sobol Shapiro LLP