Innodata faces securities fraud probe after abrupt layoffs and 25% stock drop

Pomerantz LLP is investigating Innodata Inc. for potential securities fraud following the company's sudden layoff of nearly 550 employees in India and additional workers in the Philippines. The layoffs, announced mid-shift on October 26, 2026, were attributed to a rapid business ramp-down. This news caused Innodata's stock to plunge 25.32%, falling $15.17 to close at $44.74 on October 27, 2026. The investigation will determine if Innodata and its officers engaged in unlawful business practices, with affected investors encouraged to join a class action lawsuit.

Innodata Inc currently has a market cap of $1.31 billion on Pluang, with a trading volume of 1,674,614 shares as of Nov 12, 2026 22:22 WIB. The stock price on Pluang is $35.70, down 6.48% in the last day, showing continued volatility following recent news events. Investors have held the stock for an average of 22 days on the platform, indicating relatively short-term trading activity.