Telecommunications giant Telus International Inc. and its top brass overstated the potential upsides from pivoting to artificial intelligence, misleading investors until two consecutive quarters showed lackluster margins and prompted stock drops, according to a proposed class action.
The shift began after Telus acquired Lionbridge AI in 2020, expanding its digital customer experience footprint and introducing AI data solutions to its services, the shareholder plaintiff said in a complaint filed Thursday in the US District Court for the Southern District of New York. The alleged misrepresentations occurred from 2023 to 2024, when the company’s earnings releases revealed lower margin yields.
Shareholder ...
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