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“It is critical for investors to beware of companies exploiting the fanfare around artificial intelligence to raise funds,” SEC enforcement division director Gurbir Grewal said.        

“The resulting influx of cases could have significant consequences for the efficient administration of justice in Delaware, for both Delaware-domiciled companies and Delaware residents,” the defendants said in the application for interlocutory review.        

The new tool, powered by OpenAI’s GPT-4o model, offers more than 500 curated clauses intended to streamline the drafting of clear and effective alternative dispute resolution agreements across industries.        

Three partners who arrived from Akin in London and Washington in April and May were joined by two former colleagues.        

“We continue to live in a volatile world, particularly with many over-leveraged companies,” noted Andrew Troop, Pillsbury’s restructuring practice leader.