The Corporate Restructuring Machine: How AI Could Improve Workouts

By Horst Eidenmüller and Jared Mayer April 21, 2025 by renholding

Out-of-court corporate restructurings, or “corporate workouts,” involve high-stakes multi-party negotiations without a clear procedural framework, such as the one that Chapter 11 provides. This gives the parties the freedom to design workouts without the constraints imposed by a rigid legal …

Cohen Milstein Discusses Managing Corporate Risk in the AI Gold Rush

By Julie Goldsmith Reiser and Benjamin F. Jackson March 31, 2025 by renholding

For decades, artificial intelligence (AI) was the stuff of science fiction. Today, it is fueling one of the biggest investment booms in history. In 2024 alone, venture capitalists poured over $209 billion into AI startups—a 30% jump from the previous …

How Accurate Are Corporate AI Disclosures?

By John M. Barrios, John L. Campbell, Ryan G. Johnson and Christine Liu March 3, 2025 by renholding

Artificial intelligence (AI) is emerging as a general purpose technology (GPT) with the potential to transform industries. As a result, the potential benefits of AI give firms strong reasons to adopt it – but also provides opportunities to exaggerate their …

Scaling Core Earnings Measurement With Large Language Models

By Matthew Shaffer February 28, 2025 by renholding

Large language models (LLMs) are capturing headlines and users as AI researchers push the limits of their capabilities. Those of us who work on understanding and analyzing corporations, whether as practitioners or researchers, are presented with two practical questions: What …

The Role of AI in Judicial Decision-Making

By Eric A. Posner and Shivam Saran February 19, 2025 by renholding

[Authors’ Note: This post was written by the large language model, Claude.AI (professional plan), after being fed our paper and asked to summarize it. We have lightly edited the post.]

Can artificial intelligence replace human judges? This question, once confined …

Cleary Gottlieb Discusses Effective Board Oversight as AI Evolves

By Angela L. Dunning, Daniel Ilan, David Lopez, Marcela Robledo and Synne D. Chapman February 5, 2025 by renholding

Deployment of generative AI expanded rapidly across many industries in 2024, leading to broadly increased productivity, return on investment and other benefits. At the same time, AI was also a focus for lawmakers, regulators and courts. There are currently 27 …

A New Corporate Governance Paradigm for the AI Revolution

By Michael R. Siebecker January 17, 2025 by renholding

In a new article, I tackle the increasingly urgent question of how corporate governance principles must adapt in response to the transformative influence of artificial intelligence (“AI”). No longer just a tool for enhancing operational efficiency, AI now fundamentally alters …

What Firms Disclose About Their Use of AI

By Yang Cao, Miao Liu, Jiaping Qiu and Ran Zhao December 19, 2024 by renholding

The revolutionary potential of artificial intelligence (AI) creates substantial uncertainty about its impact on firm value. On one hand, AI can drive revenue growth through innovative products and precise customer targeting, while also reducing operational costs by automating tasks, optimizing …

Simpson Thacher Discusses Updated Antitrust Compliance Guidance

By John Terzaken, Abram Ellis, Peter Guryan, Sara Razi, and Sophia Dillon-Davidson December 9, 2024 by renholding

On November 12, 2024, the U.S. Department of Justice (“DOJ”) published updated guidance on how the DOJ’s Antitrust Division will evaluate corporate compliance programs when making charging decisions and sentencing recommendations relating to criminal antitrust violations, such as bid-rigging, price-fixing, …

Wilson Sonsini Discusses the New National Security Rules for Investing U.S. Capital

By Alyza Sebenius, Joshua Gruenspecht and Stephen Heifetz December 6, 2024 by renholding

In late October 2024, the U.S. Treasury Department (Treasury) issued its final rules (the Outbound Rules) implementing President Biden’s Executive Order (EO) 14105 on “outbound” U.S. investment. See our prior mailers here and here. The Outbound Rules will take …

Debevoise & Plimpton Discusses Key Considerations for the 2024 Annual Reporting Season

By Eric T. Juergens, Benjamin R. Pedersen, Paul M. Rodel, Alice Gu and Amy Pereira November 22, 2024 by ngodridge

As November comes to an end, the busy annual reporting and proxy season begins for many public companies. In this Client Update, we highlight key considerations for public companies when preparing their annual reports on Form 10-K or Form 20-F, …

White & Case Discusses SEC 2025 Priorities: AI, Cybersecurity, and Crypto

By Tami Stark and Claudette Druehl November 20, 2024 by eorozco

On October 21, 2024, the US Securities and Exchange Commission (“SEC”) Division of Examinations (“Examination Division”) announced its 2025 Examination Priorities (“Report”). Investment advisers and broker-dealers should ensure that policies, procedures and surveillance efforts related to these priorities address concerns …

DOJ Announces Revisions to Corporate Compliance Guidance

By Nicole M. Argentieri September 27, 2024 by renholding

The Criminal Division is on the front lines of the Justice Department’s efforts to hold culpable individuals and companies accountable for corporate crime. We also develop innovative policies both to encourage companies to be good corporate citizens and to enhance …

Will Large Language Models Propel Financial Statement Analysis Into a New Era?

By Alex G. Kim, Maximilian Muhn and Valeri Nikolaev September 16, 2024 by renholding

Since the introduction of ChatGPT, large language models (LLMs) have completed a variety of tasks with impressive results, from summarizing complex documents to conducting sentiment analysis to extracting relevant information. But are LLMs up to even greater challenges like, say, …

How Board Networks Reinforce Corporate Innovation

By Yang Fan and Mu-Jeung Yang September 6, 2024 by renholding

In recent years, technological advances and structural shifts have catalyzed a surge in corporate investments in research and development (R&D), intellectual property, and other intangible assets. These developments reflect the growing importance of innovation-driven growth in the modern economy. In …

The Promise and Perils of Using AI at Law Reviews

By Hadar Y. Jabotinsky and Roee Sarel August 30, 2024 by renholding

The legal world is no stranger to technological advancements, but the surge in artificial intelligence (AI) capabilities has sparked a movement that is reaching even law reviews. Every submission cycle, Scholastica – the largest platform for law-review submissions – releases …

AI, New Technologies, and Corporate Governance

By Martin Petrin August 19, 2024 by renholding

Business has always had to adapt to new technologies, from the steam engine to the automobile to personal computers. Today, artificial intelligence (AI) and closely related developments like Big Data analytics and machine learning are the technologies transforming business, along …

Skadden Discusses New UK Government’s AI and Cybersecurity Reforms

By Nicola Kerr-Shaw and Aleksander J. Aleksiev August 9, 2024 by renholding

Last month the new Labour government in the UK announced in the King’s Speech that it will introduce new artificial intelligence (AI) rules alongside cybersecurity and digital information bills. A brief overview of these developments is set out below.

Artificial

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Elon Musk’s Threat

By Zohar Goshen July 8, 2024 by renholding

In the wake of a judicial decision invalidating Tesla CEO Elon Musk’s stock-option package, Tesla’s shareholders have voted overwhelmingly to ratify Musk’s pay. Rather than respect investors’ judgment, however, the lawyers who brought the case claimed that the shareholder vote …

SEC Corporation Finance Director Speaks on the State of Disclosure Review

By Erik Gerding June 25, 2024 by renholding

Good afternoon.[1] I appreciate the opportunity to speak with you again today as part of the Corp Fin Workshop. I wanted to make a few remarks about the important work being done in the Division’s Disclosure Review Program and

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