The complaint filed by the Law Offices of Frank R. Cruz contends that SES AI artificially inflated its business prospects by overstating the potential of partnerships with entities that lacked meaningful operations. Investigators allege the company engaged in circular transactions, manufacturing an appearance of revenue by trading services for purchases of Molecular Universe. These practices reportedly masked significant logistics constraints that hampered the company's performance during the fourth quarter of 2025.

These undisclosed operational hurdles directly undermined the company's 2026 growth projections, leading to lower-than-anticipated revenue guidance. The lawsuit argues that the company’s public statements throughout the specified period lacked a reasonable basis and misled shareholders regarding the firm's true financial health. Affected parties seeking to represent the class are advised to contact the firm before the upcoming deadline, though shareholders are not required to take immediate action to remain part of the collective class.