Takeaways From Recent Claims Against Mark Zuckerberg and Facebook – Mitigating the Heightened Risk of Privacy Suits Against Individual Directors and Officers
When the CEOs of the biggest social media companies were brought before Congress in January to answer for the devastating effects of social media on young people, Mark Zuckerberg turned heads by turning his own and...more
In this edition of Faegre Drinker’s State Attorneys General Update, we discuss: • Intuit’s $141 million nationwide settlement of false advertising claims relating to its TurboTax software...more
Everything has a life cycle. Bacteria, insects, people, civilizations, galaxies - all are born, live and pass into eternity eventually. So it goes with technologies....more
As recent claims against Facebook CEO Mark Zuckerberg in relation to the Cambridge Analytica data-mining scandal continue to develop, Lynda, joined by Lowenstein attorneys Kathleen McGee, Partner in the firm’s White Collar...more
In United Food & Com. Workers Union v. Zuckerberg, No. 404, 2020 (Del. Sup. Sep. 23, 2021), the Delaware Supreme Court adopted a new, three-part test for determining when a shareholder is required to make a pre-suit demand on...more
On Sept. 23, the Delaware Supreme Court endorsed a new universal three-part demand-futility test in United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. Zuckerberg, et...more
Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential; Delaware Supreme Court Overrules Longstanding Precedent Regarding Derivative Versus Direct Standing; SEC Files Crowdfunding...more
In one week, the Delaware Supreme Court handed down two important opinions simplifying Delaware law on derivative claims. On September 23, 2021, in United Food and Commercial Workers Union and Participating Food Industry...more
On September 23, 2021—in United Food and Commercial Workers v. Zuckerberg—the Delaware Supreme Court endorsed a new universal three-part demand futility test. The decision will likely have far-reaching consequences, including...more
In a Sept. 23, 2021, decision that may make it easier for Delaware boards of directors to obtain an early dismissal of derivative suits brought against them, the Delaware Supreme Court in United Food and Commercial Workers...more
Happy New Year to all. To kick off 2021, I’ve provided quick takes below on some of the bigger stories we’ll be watching- WME v. WGA- Just before Christmas, CAA closed a deal with the Writers Guild regarding phasing...more
In a major shift (and with antitrust regulators breathing down its neck), Apple is halving the App Store fee it charges developers (from 30% to 15%) who produce “as much as $1 million in annual revenue from their apps and...more
A World Trade Organization panel on Tuesday declared that the U.S.’s 2018 tariffs on China “violated international trade rules,” siding with China and its allegations that the White House’s trade war broke, among other...more
In Washington - Senate Majority Leader Mitch McConnell (R-KY) and Republicans released the text of their “skinny” or “targeted” coronavirus relief bill. McConnell said a vote to proceed to the bill is expected Thursday....more
Still-new TIkTok CEO Kevin Mayer has stepped down, “just months after taking the helm of the viral short video app.” ByteDance had appointed Mayer in May in an effort “to make the case that TikTok operates as a separate...more
More on TikTok’s plans to sue the U.S. over the White House’s recent executive orders seeking to block the app on American soil and force its owner, ByteDance, to sell its American assets. The company intends to argue that...more
Twitter will pay the Federal Trade Commission up to $250 million to “resolve new charges . . . that the social media giant breached a 2011 consent decree by using data provided for security purposes to target users with...more
New estimates from the Congressional Budget Office suggest that the “U.S. economy could take the better part of a decade to fully recover from the coronavirus pandemic and related shutdown” and see as much as a 3% contraction...more
Despite [actually, more likely because of] a rash of recent closures at meat processing facilities due to COVID-19 outbreaks, the White House issued an executive order classifying the slaughterhouses as “critical...more
All the talk of when to reopen the economy is largely gotten in the way of a bigger (and thornier, if possible) question: how to do it. Despite the bold declarations from optimists and wishful thinkers that it’s as easy as a...more
The Senate has passed a $484 billion measure that would add $130 billion to the Paycheck Protection Program, the “small-business loan program that ran out of funding last week after being deluged with applications.” The bill...more
Tuesday was one of those rare Bear Market good days. Renewed optimism about a forthcoming Congressional stimulus deal (including the estimated $2 trillion it encompasses) and more time to digest the Fed’s commitment to...more
Apple announced that the coronavirus outbreak that’s brought Chinese manufacturing to a near-standstill and continues to spread around the world will affect its quarterly sales expectations. The news makes Apple “one of the...more
Digital assets and Blockchain technologies which were once described as the tools of criminals, are now a key part of efforts by traditional financial services firms to transform their businesses and innovative firms looking...more
U.S. Developments - Mark Zuckerberg Testifies Before U.S. House of Representatives Regarding Libra - On October 23, Facebook, Inc. CEO, Mark Zuckerberg, testified before the House Committee on Financial Services regarding...more