Defendant Name: Presto Automation Inc.

Defendant Type: Public Company

Document Reference: 33-11352-s

Document Details

Legal Case Name In the Matter of Presto Automation Inc.
Document Name SEC Charges Restaurant-Technology Company Presto Automation for Misleading Statements About AI Product
Document Date 14-Jan-2025
Document Format Administrative Proceeding
File Number 3-22413
Allegation Type Issuer Reporting and Disclosure
Document Summary On January 14, 2025, the SEC "announced settled charges against Presto Automation Inc., a restaurant-technology company that was listed on the Nasdaq until September 2024, for making materially false and misleading statements about critical aspects of its flagship artificial intelligence (AI) product, Presto Voice. Presto Voice employs AI-assisted speech recognition technology to automate aspects of drive-thru order taking at quick-service restaurants."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution

Related Documents:

33-11352 14-Jan-2025 Administrative Proceeding
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
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."