Defendant Name:
Presto Automation Inc.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
74113T10
Document Reference:
33-11352
Document Details
Legal Case Name
In the Matter of Presto Automation Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
14-Jan-2025
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On January 14, 2025, the SEC instituted settled cease-and-desist proceedings against Presto Automation Inc., stating: "This matter concerns materially false and misleading statements that Presto, a restaurant technology company, made to investors regarding critical aspects of its flagship artificial intelligence (“AI”) product, Presto Voice. Presto made these false and misleading statements in its Commission filings and public statements between November 2021 and May 2023."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
