Judge: Statements That AI Lending Platform Is ‘Magical’ Were Optimistic, Puffery

Mealey's (October 3, 2023, 11:28 AM EDT) -- CINCINNATI — Claims that a lending platform’s artificial intelligence’s “magical” abilities would “shine” during periods of risk are nothing more than optimistic statements and puffery, while claims that its model could approve more loans at lower rates than traditional systems during such times are verifiable and actionable, a federal judge in Ohio said in partly granting motions to dismiss a securities class action....