Digital information company Innodata Inc. had only “rudimentary” artificial intelligence software despite saying it offered a variety of AI platforms and services, according to a stock-drop lawsuit filed Wednesday.
The price of Innodata common stock plunged more than 30% on Feb. 15 following publication of a negative report by a financial research firm, shareholder David D’Agostino says in the proposed class action filed in the US District Court for the District of New Jersey.
The suit comes shortly after Securities and Exchange Commission Chair Gary Gensler said that publicly traded companies need to avoid “AI washing” when talking to investors ...
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