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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Democracy, Discourse, and the Artificially Intelligent Corporation

By Michael R. Siebecker June 19, 2024 by renholding

Does the rise of artificially intelligent corporations threaten the integrity and legitimacy of democracy? This question looms large as the 2024 presidential election approaches. A growing number of academics, business leaders, and politicians warn that unchecked development and dissemination of …

Skadden Discusses the UK ICO Strategy on AI Governance

By David A. Simon, Stuart D. Levi, Nicola Kerr-Shaw, Eve-Christie Vermynck and Jonathan Stephenson June 13, 2024 by renholding

Rather than specifically regulating artificial intelligence (AI), the UK government has opted to rely on the existing web of laws and regulations applying to technology across a spectrum of sectors in its jurisdiction. But with this pro-innovation, principles-based approach comes …

The Elephant in Tesla’s Boardroom

By Lucian Bebchuk and Robert J. Jackson, Jr. June 6, 2024 by renholding

Next week, Tesla investors will cast an unprecedented vote on what a court called the “largest chief-executive pay package in the history of public markets.” While the vote has been closely watched, little attention has been paid to the elephant …

Ropes & Gray Discusses AI and the Copyright Liability Overhang

By David McIntosh, Georgina Jones Suzuki and Yam Schaal May 29, 2024 by renholding

Copyright law, as it relates to Artificial Intelligence (“AI”), is at a crossroads. Rapid innovation in AI has created a great deal of uncertainty regarding whether popular AI platforms infringe copyright. More than a dozen¹ suits are pending across …

Governance Implications of the Latest DOJ Corporate Fraud Enforcement Policies

By Michael W. Peregrine and Ashley C. Hoff March 29, 2024 by renholding

Corporate boards will be called upon to renew their oversight of corporate compliance following the recent announcement of several new corporate fraud enforcement initiatives by the U.S. Department of Justice (DOJ). Most notably, these include a new whistleblower program and …

Skadden Discusses Litigation and Investigation Implications for Companies Adopting GenAI

By Andrew M. Good, Gretchen M. Wolf and Leslie R. Reid March 20, 2024 by renholding

Generative artificial intelligence (GenAI) has seen a rapid expansion in personal and commercial use. Tools such as ChatGPT have helped to automate mundane tasks, create first drafts of communications and streamline research.

While the business uses for such technology are …

Latham & Watkins Discusses FTC AI Agenda and Novel Impersonation Rulemaking

By Ian Connor, Sy Damle, Michael Rubin, Will Schildknect and Charles Sprague March 11, 2024 by renholding

On February 15, 2024, the Federal Trade Commission (FTC) issued a Supplemental Notice of Proposed Rulemaking (SNPRM) seeking comment on a proposed rule that, if implemented, would prohibit the impersonation of any individual and prohibit companies from supplying technology that …

Wachtell Lipton Discusses AI in the 2024 Proxy Season: Managing Investor and Regulatory Scrutiny

By William Savitt, Mark F. Veblen, Kevin S. Schwartz, Noah B. Yavitz, Carmen X. W. Lu and Courtney D. Hauck March 6, 2024 by renholding

Corporate disclosures concerning artificial intelligence have increased dramatically in the past year, with Bloomberg reporting that nearly half of S&P 500 companies referenced AI in their most recent annual reports. And some investors are clamoring for even more, using shareholder …

How Big Tech Coopts Disruption – and What to Do About It

By Mark A. Lemley and Matthew Wansley March 4, 2024 by renholding

Our economy is dominated by five aging tech giants – Alphabet, Amazon, Apple, Meta, and Microsoft. Each of these firms was founded more than 20 years ago: Apple and Microsoft in the 1970s, Google and Amazon in the 1990s, and …

Skadden Discusses SEC Focus Amid Lack of Final AI Rules

By Daniel Michael, David A. Simon and Merin P. Cherian March 1, 2024 by renholding

Last year, the U.S. Securities and Exchange Commission (SEC) proposed ambitious rules relating to artificial intelligence (AI) that have drawn significant commentary and criticism. While it is unlikely that any changes in the law are imminent, other initiatives by the …

Goodwin Procter Discusses DOJ Focus on False Claims Act Enforcement Against Private Equity

By Ilene Albala, Gregory Demske, Allan Medina, Kirk Ogrosky and Jordan L. Moran February 29, 2024 by renholding

2023 was another record year for False Claims Act enforcement. On February 22, 2024, the U.S. Department of Justice (DOJ) announced that the federal government and whistleblowers were party to a record number of FCA settlements and judgments in Fiscal …

Deputy U.S. Attorney General Lisa Monaco Speaks on the Promise and Peril of AI

By Lisa Monaco February 22, 2024 by renholding

Oxford has an unmatched reputation for making world-shifting contributions in our most critical moments. From testing and then supplying penicillin during World War II — to pioneering research on the digital world’s impact on society through the Oxford Internet Institute

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Cleary Gottlieb Discusses AI’s Risks for Boards and Managers

By David Lopez, Adam Fleisher, Daniel Ilan, Benet O’Reilly and Synne Chapman February 20, 2024 by renholding

Artificial intelligence (AI)[1] was the biggest technology news of 2023. AI continues to revolutionize business in big and small ways, ranging from disrupting entire business models to making basic support functions more efficient. Observers have rightly focused on the …

SEC Chair Speaks on AI, Finance, Movies, and the Law

By Gary Gensler February 16, 2024 by renholding

Good afternoon. As is customary, I’d like to note that my views are my own as Chair of the Securities and Exchange Commission, and I am not speaking on behalf of my fellow Commissioners or the staff.

Scarlett Johansson played

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Davis Polk Discusses the FSOC Annual Report

By David L. Portilla, Luigi L. De Ghenghi, Eric McLaughlin, Gabe Rosenberg and Margaret E. Tahyar January 5, 2024 by renholding

The Financial Stability Oversight Council released its 2023 Annual Report, highlighting its 2023 activities, significant financial market and regulatory developments and potential emerging threats to U.S. financial stability. The 2023 Annual Report newly identifies artificial intelligence and insurance as vulnerabilities …

Debevoise & Plimpton Discusses the EU Artificial Intelligence Act

By Avi Gesser, Matt Kelly, Robert Maddox, Martha Hirst and Samuel J. Allaman December 20, 2023 by renholding

On December 8, 2023, after months of negotiations, the European Commission, the European Parliament and the European Council reached political agreement on the terms of the European Union Artificial Intelligence Act (the “EU AI Act” or the “Act”). We previously …

Skadden Discusses AI Training Case Brought by Thomson Reuters

By Pramode Chiruvolu, Stuart D. Levi, Brianna M. van Kan and Taylor Beardall December 13, 2023 by renholding

In Thomson Reuters v. Ross Intelligence,[1] a district court largely denied the parties’ cross motions for summary judgment and held that a number of factual issues must be decided by a jury.

The decision provides some insight into

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Cleary Gottlieb Discusses Roadblocks for Plaintiffs in Generative Artificial Intelligence Lawsuit

By Angela Dunning and Lindsay Harris December 12, 2023 by renholding

On October 30, 2023, U.S. District Judge William Orrick of the Northern District of California issued an Order[1]largely dismissing without prejudice the claims brought by artists Sarah Andersen, Kelly McKernan and Karla Ortiz in a proposed class action …

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