Judge Won’t Rethink Partial Dismissal Of Stock Drop Suit Against AI Lending Firm

Mealey's (August 6, 2024, 12:00 PM EDT) -- CINCINNATI — A federal judge in Ohio on Aug. 5 denied a lending platform’s motion to reconsider a ruling that claims made by shareholders about the platform’s use of artificial intelligence to approve loans are actionable, holding that the lending platform incorrectly argued that the investors’ inability to establish a single factor in a multi-factor test to determine scienter “is so essential that its inapplicability is fatal to Plaintiffs’ claims.”...

Attached Documents

Related Sections