Kubient’s Stock Offerings Touted False Revenue From AI, SEC Says

Kubient Inc.'s former president schemed to misrepresent the technology company’s revenue ahead of public stock offerings by falsely claiming its flagship AI product was in beta testing, the SEC says.

The executive, Paul Roberts, who was also the company’s interim CEO and chair, has entered into a partial settlement in which he has agreed to orders against further securities law violations, according to a filing Monday in the US District Court for the Southern District of New York.

The Securities and Exchange Commission separately sued Joshua Weiss, Kubient’s former chief financial officer, and Grainne Coen, its former audit committee chair, ...