Brand Engagement Network (NASDAQ: BNAI) has terminated its Exclusive Reseller Agreement with AFG Companies and filed a lawsuit against AFG and its CEO. The lawsuit alleges fraudulent misrepresentation, breach of contract, and concealment of a ransomware attack. The agreement, signed in August 2023, failed when AFG didn’t provide access to the promised operational-ready data platform, hindering BEN’s automotive market entry.
Despite this setback, BEN is proceeding with its automotive initiatives, including the launch of its Automotive AI Agent, which will support over 13,000 dealerships nationwide. The company is expanding through pilot programs in the Midwest, partnerships in Mexico, and collaborations with Canadian dealership groups. Additionally, BEN continues to develop its AI healthcare solutions, maintaining compliance with HIPAA, GDPR, SOC 2 Type 1, and CCPA regulations.
Stock Titan Article – https://www.stocktitan.net/news/BNAI/ben-ends-exclusive-reseller-relationship-with-afg-advances-d4wdesftr4ik.html
BEN Press Release – https://investors.beninc.ai/news-releases/news-release-details/ben-ends-exclusive-reseller-relationship-afg-advances-automotive
LATEST AUTO BUZZ AROUND BEN AI AND WRIGHT BREWER 