08:32 AM EST, 12/23/2024 (MT Newswires) -- iLearningEngines (AILE) said Monday it has started voluntary Chapter 11 bankruptcy proceedings.

The company said it intends to continue offering support to its installed client base and will seek court approval to operate the business during the proceedings, which were initiated Friday.

Shares of the company fell more than 35% in recent Monday premarket activity.