LATEST AUTO BUZZ AROUND BEN AI AND WRIGHT BREWER

JACKSON, Wyo., Jan. 17, 2025 (GLOBE NEWSWIRE) — Brand Engagement Network Inc. (“BEN”) (NASDAQ: BNAI), an innovator in AI-powered customer engagement solutions, today announced the termination of its Exclusive Reseller Agreement (the “Agreement”) with AFG Companies, Inc. (“AFG”) and the filing of a lawsuit in the Northern District of Texas, Dallas Division, against AFG and its CEO, Ralph Wright Brewer III. The lawsuit alleges fraudulent misrepresentation, breach of contract, and the concealment of a ransomware attack on their network shortly before the agreement was executed.

The Agreement, signed in August 2023, was intended to expedite BEN’s entry into the automotive market. However, AFG’s failure to provide access to the agreed-upon operational-ready data platform hindered BEN’s ability to deliver its AI solutions to dealerships. BEN believes these issues caused significant delays in key automotive initiatives and irreparably damaged trust in the partnership.

“We believe AFG’s actions significantly disrupted our efforts to modernize dealership operations,” said Paul Chang, Chief Executive Officer of BEN. “Terminating the Agreement was essential to protect our strategy and enable us to focus on delivering impactful AI solutions to the automotive industry.”

“The ransomware attack occurred before we would have integrated any of our systems with AFG, and at no point were BEN’s systems, data, or customers ever impacted,” Chang added.

AU Finance Yahoo Article – https://au.finance.yahoo.com/news/ben-ends-exclusive-reseller-relationship-123500350.html

Ben AI Press Release – https://investors.beninc.ai/news-releases/news-release-details/ben-ends-exclusive-reseller-relationship-afg-advances-automotive