Tempus investors file a lawsuit against short-selling firms over AI and CEO allegations
A proposed class action lawsuit claims that Tempus AI misled investors about its trading value and artificial intelligence (AI) capabilities, concealing weaknesses in its operations and revenue prospects. According to a complaint filed Thursday in the U.S. District Court for the Northern District of Illinois, a report from a short-selling firm on May 28 accused Tempus of exaggerating its AI-driven revenue and questioned the work experience of its executives, leading to a stock price drop of over 19% that day, closing at $53.20. According to data compiled by Bloomberg, this marks the largest single-day decline in stock price for the AI medical analytics company since its listing in June 2024
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