Investor Sues AI Hedge Fund
Disgruntled investor sues AI hedge fund in the UK for trades gone bad.
In the news article cited, a simple due diligence on the AI software developer would have revealed that its founder “recently agreed to pay $17 million to the U.S. Securities and Exchange Commission to settle charges of defrauding investors at his mobile-payments company, Jumio Inc”! A red-flag.
Investors should engage multi-disciplinary attorneys who understand finance, law and emerging technology to scrutinize deals. These sort of disputes will only increase given the number of hedge funds using AI techniques. Investor beware!