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Misleading Statements Corporate Counsel

Husch Blackwell LLP

Texas Attorney General Reaches Generative AI Settlement

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Keypoint: The Texas Attorney General reaches a first-of-its-kind settlement with a healthcare company that provides generative AI products. On September 18, 2024, the Texas Attorney General announced that it had reached a...more

Foley & Lardner LLP

Don’t Buy The Buzzwords: “AI Washing” Gets Its Reckoning

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Since the release of ChatGPT 3.5 in November 2022, public interest in artificial intelligence (AI) has surged in a classic example of a hype cycle. As with past technological breakthroughs, companies may be tempted to...more

Hinch Newman LLP

First Case Where FTC Charges Company in Gig Economy With Violating the Business Opportunity Rule

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On July 2, 2024, the Federal Trade Commission announced that it is taking action against a gig work company for allegedly misleading consumers about the money they could make on the company’s platform and marketing its...more

Manatt, Phelps & Phillips, LLP

AI Gone Wild: Airline Has to Honor a Refund Policy Its Chatbot Fabricated

In a recent case brought in front of the Civil Resolution Tribunal (“CRT”) of British Columbia, Moffatt v. Air Canada, 2024 BCCRT 149, the CRT found in favor of an airline customer who relied on information about an airline’s...more

Morrison & Foerster LLP

Top 5 SEC Developments for August 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for March 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources...more

Morrison & Foerster LLP

European Digital Compliance: Key Digital Regulation & Compliance Developments - March 2023

To help organizations stay on top of the main developments in European digital compliance, Morrison Foerster’s European Digital Regulatory Compliance team reports on some of the main topical digital regulatory and compliance...more

Davis Wright Tremaine LLP

Securities Class Actions: Data, Trends, and Insights

The number of securities class actions filed last year fell for the fourth year in a row. But these time-consuming, costly litigations still target 5 percent of all S&P 500 companies in an average year, and settlement costs...more

Cadwalader, Wickersham & Taft LLP

Australia’s Securities and Consumer Protection Regulators Pursue Alleged Greenwashing

On February 28, 2023, Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), announced that it had commenced “civil penalty proceedings” in federal court against Mercer Superannuation...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Davies Ward Phillips & Vineberg LLP

Canadian Competition Law Trends for 2023: Significant Amendments and More Change Ahead

Significant amendments to Canada’s Competition Act (Act) dominated discussion about Canadian competition law policy and enforcement in 2022. Given the full implementation of the first round of amendments and the formal...more

Kelley Drye & Warren LLP

FTC and States Settle with Google and iHeartMedia Over Misleading Endorsements

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In January, we reported that the Texas Attorney General had filed a lawsuit against Google alleging that the company engaged iHeartMedia DJs to provide endorsements for its Pixel 4 phone, even though they had never used it....more

Morrison & Foerster LLP

SEC Action Against Cheetah Mobile Execs Shows Rule 10b5-1 Plans Are Not a Get Out of Jail Free Card

On September 21, 2022, the Securities & Exchange Commission announced a settled enforcement action against two executives of China-based mobile internet company Cheetah Mobile, Inc. The SEC alleged that Sheng Fu, Cheetah...more

WilmerHale

SEC Brings Charges Against Director and Former Executive Officers for Allegedly Lying to Auditors About Loss Contingencies...

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Last week, the Securities and Exchange Commission (SEC) filed a complaint in U.S. District Court against a company’s director, former CEO and former CFO for allegedly making false and misleading statements to the company’s...more

Wilson Sonsini Goodrich & Rosati

Gig Economy, Dark Patterns, and Impersonation Scams: FTC Signals Priorities in Open Commission Meeting

On September 15, 2022, the Federal Trade Commission (FTC) held an open Commission meeting that covered three agenda items: 1) a rulemaking on impersonation scams, 2) a policy statement on enforcement related to gig work, and...more

ArentFox Schiff

FTC Takes First Actions Under New Made in USA Labeling Rule, Fining Battery Companies for Violations

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The Federal Trade Commission (FTC) recently cracked down on Lithionics Battery, LLC, and Lions Not Sheep Products, LLC, for violating the FTC’s Made in USA Labeling Rule. These are some of the first enforcement actions after...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

What Constitutes a Misleading Statement in a Company’s Response to a Data Breach?

Takeaway: To ensure investor safety and emphasize a commitment to user privacy, corporate executives and similarly-situated high ranking officers must not provide any statements or omissions that affirmatively create a...more

Perkins Coie

PFAS Litigation Expands Into “Mislabeling” Class Action Arena

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Per- and polyfluoroalkyl substances (PFAS) are a group of over 4,000 synthetic chemicals that have been used in industry and consumer products since the 1940s. These substances are identified by their chains of...more

Smith Anderson

Marriott Investor’s Security Fraud Claims Arising from Data Breach Rejected by Fourth Circuit

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The Fourth Circuit dismissed an investor’s lawsuit against a hotel chain that had been subject to a data breach, ruling that the company had not made false or misleading public statements about its protection of customer...more

Goodwin

SEC Enforcement Broadens Its Crypto Focus

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On May 6, 2022, the U.S. Securities and Exchange Commission announced that it settled charges against NVIDIA Corporation alleging that the company’s disclosures regarding the impacts of increased use of its gaming products by...more

Jones Day

SEC Brings Landmark Suit Over Alleged Misrepresentations in ESG-Related Documents

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The U.S. Securities and Exchange Commission's ("SEC") Climate and ESG Task Force has filed one of its most significant enforcement matters to date. On April 28, 2022, the SEC brought an action in the U.S. District Court for...more

Proskauer - Corporate Defense and Disputes

Qualcomm Escapes Diversity Suit

Another diversity-based derivative suit was dismissed this week by a federal district court, joining a list of decisions that have rejected similar shareholder allegations. ...more

Goodwin

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence Is...

Goodwin on

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence is Required for Each Putative Class Member; District Judge Approves Magistrate’s Recommendation to Deny...more

Proskauer - Corporate Defense and Disputes

Post-SPAC Technology Company Hit with Securities Class Action

Private companies with cutting-edge technology have become particularly attractive targets for special purpose acquisition companies (SPACs). These private companies may choose to go public via SPAC for a number of reasons...more

SECIL Law

A Cautionary Tale for Executives: Clever Omissions Can Equal Fraud

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An appellate court upheld a judgment that clever omissions from statements made by a corporate officer constituted securities fraud. On January 22, 2021, the U.S. Court of Appeals for the First Circuit in Boston,...more

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