In this Cooley memo penned by William Pao, Jonathan Waxman and Julian Piroli, I read the fact patterns for the various securities litigation cases involving AI-related disclosures with great interest. It’s worth checking out. Here’s the intro from the memo:
“In 2025, securities litigation over artificial intelligence claims reached a new level of intensity. What had been a trickle of exploratory cases before 2024 became a sustained wave throughout 2024 and into 2025, as plaintiffs counsel increasingly focused on AI-
related disclosures.
The numbers bear this out. AI-related securities filings doubled from seven in 2023 to 15 in 2024, with another 14 through the first three quarters of 2025. The surge reflects a familiar cycle: Markets reward AI innovation, creating strong incentives for companies to communicate their AI capabilities, while plaintiffs counsel monitor closely for potential gaps between disclosures and performance when stock prices fall.”
Authored by
Broc Romanek