Brand Engagement Network (BNAI) said Friday it has terminated its exclusive reseller agreement with AFG Companies and filed a lawsuit against the company and its chief executive Ralph Wright Brewer III.
Brand Engagement Network alleged AFG failed to provide access to an agreed-upon operational-ready data platform which would have let it deliver its artificial intelligence solutions to dealerships.
The company also claimed that AFG concealed a ransomware attack on its network shortly before both sides reached an agreement on the data platform.
AFG did not immediately respond to a request for comment from MT Newswires.
Shares of Brand Engagement Network were up 5.6% in recent trading.
Price: 0.63, Change: +0.03, Percent Change: +5.63
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