J Capital says Innodata DOJ subpoena ‘validates September allegations’

J Capital Research stated in a newly published report on Innodata (INOD): “Buried in INOD’s just-released Q3 2024 report is a disclosure that it has been subpoenaed by a grand jury in a DOJ investigation. The subpoena was received August 7, 2024, the day before INOD released Q2 earnings, at which time the investigation was undisclosed. We believe that the concerns go beyond the February 15, 2024 Wolfpack report that brought on a class-action suit and an SEC investigation. The involvement of DOJ suggests potentially criminal conduct and validates our September allegations of potential fraud.”