The filing of AI-Washing related securities suits is by now a well-established phenomenon. But a securities suit filed earlier this week presents an interesting new variant on this phenomenon. The new lawsuit alleges that the defendant company used the announcement of a supposed AI-related “collaboration” with Microsoft allegedly to “pump” the company’s share price just before disclosing an at-the-market private placement. As discussed below, the new lawsuit is just the latest in a recent series of securities class action lawsuits alleging share price pumping schemes.Continue Reading Securities Suit Alleges AI-Washing Stock Price “Pump”
Here at The D&O Diary we generally review securities class action lawsuit complaints as they come in. The complaints pretty reliably make for interesting reading but every now and there are specific complaints that particularly catch our eye. Among the host of new securities class action lawsuit filings this past week, there were two that were of particular interest.