AI, Machine learning, Hands of robot and human touching on big data network connection background, Science and artificial intelligence technology, innovation and futuristic.. Insurance Provider Using AI to Automate Claims Hit With Shareholder Suit
This suit was surfaced by Law.com Radar. Read the complaint here.
January 14, 2022 at 11:21 AM
1 minute read
Securities Litigation
Metromile, a digital car insurance provider that employs AI to automate claims, and its board of directors were slapped with a shareholder lawsuit Thursday in Pennsylvania Eastern District Court over the company's planned acquisition by insurtech giant Lemonade. The suit, filed by the Grabar Law Office on behalf of Mark Blake, accuses Metromile of overstating financial reports and making false statements regarding the sales process leading up to the proposed transaction. Counsel have not yet appeared for the defendants. The case is 2:22-cv-00165, Blake v. Metromile, Inc. et al.
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