Section 12 focuses on untrue statements in a prospectus that accompanies the sale of a security. Slack’s view was that Section 11 of the Securities Act, which lets plaintiffs sue for falsities in a registration statement if they bought “such security,” refers to registered, not unregistered, shares. Salesforce, a major business software maker, purchased Slack for $27.7 billion in 2021. Securities and Exchange Commission (SEC). The registration statement was filed with the U.S. □ It cannot (yet!) look things up - but it can suggest what to look up.Slack contended the lawsuit must be dismissed because Pirani cannot prove that he bought registered shares that were specified in the company’s allegedly misleading registration statement rather than shares that were exempt from registration.□ It cannot (yet!) take actions in the real world - but it can suggest actions to take.□ Similarly, Claude does not know today’s date, nor does it know about current events.⏳ Claude was trained on data that can be up to 2 years out of date.Claude can however read and incorporate content from website that you provide a link to. □ Claude has read a lot on the internet, so it knows things about the real world, but it has not read recent content.It will occasionally fill in information from its memory that isn’t present in long documents it’s presented with when asked questions. □ Claude still sometimes hallucinates or makes up information and details.If given a long list of instructions it will often make mistakes when attempting to comply with all of them. ➗ Claude will often make mistakes with complicated arithmetic and reasoning, and sometimes with more basic tasks.It will often incorrectly report its own abilities, or claim to be “updating its memory”, when in fact it does not have any memory of prior conversations! □ Claude is “playing a role” as a helpful assistant.
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