Innodata discloses receipt of DOJ, SEC subpoenas seen related to class action

In the company’s quarterly filing, Innodata (INOD) stated: “Subsequently, on March 25, 2024, the Company received a letter from the staff of the Securities and Exchange Commission, Division of Enforcement, requesting the Company preserve certain documents and data; on August 7, 2024 the Company received a grand jury subpoena from the U.S. Department of Justice requesting the Company to produce certain documents; and on September 23, 2024 the Company received a subpoena from the SEC requesting certain information. The Company believes that the SEC and DOJ requests are related to the conduct alleged in the Securities Class Action, and is cooperating with these investigations. The Company is unable to predict when these matters will be resolved or what further action, if any, the SEC or DOJ may take in connection with it.”