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In AI Washing

Recent SEC Actions Highlight Increased Regulatory Scrutiny over Artificial Intelligence and “AI Washing”

by , , , and 5 Mins Read

On March 18, 2024, the United States Securities and Exchange Commission (the “SEC”) announced that it settled charges against two investment advisers for making false and misleading statements about their purported use of artificial intelligence (AI). This SEC enforcement action marks the latest efforts by securities regulators to combat the adverse effects of “AI washing” and confirms that AI, and particularly “AI washing”, is at the forefront of securities regulators’ minds. What is “AI washing”?…

In Antitrust Consumer Protection

United States: FTC and DOJ prevail against healthcare company and its executives in parallel civil and criminal cases

by , , and 7 Mins Read

In brief In 2018, following an investigation, the FTC filed a complaint in the US District Court for the Southern District of Florida against Simple Health Plans LLC and several related companies (collectively, “Simple Health”), as well as the companies’ then-CEO and founder. Then, in 2022, the DOJ indicted three former Simple Health executives — again the then-CEO, its VP of Sales, and its Chief Compliance Officer — in the Southern District of Illinois. The…

In Environment

United States: How the PFAS Litigation Landscape is Expanding

by , and 12 Mins Read

For nearly a decade, plaintiffs have been filing lawsuits over the alleged environmental and health consequences associated with per- and polyfluoroalkyl substances — sometimes called forever chemicals. Initially, these lawsuits were largely against early manufacturers of Teflon and other common household products. But this landscape is rapidly changing. Recently, the range of lawsuits and companies targeted has expanded to include not only manufacturers but also other companies in the chain of commerce — including those…

In RICO

United States: Baker McKenzie victory at Supreme Court opens door to RICO claims by non-US plaintiffs (including Chapter 15 foreign representatives)

by , and 7 Mins Read

In brief Baker McKenzie’s recent victory in the United States Supreme Court in Yegiazarian v. Smagin, 143 S. Ct., 1900 (22 June 2023), opens the door for non-US plaintiffs to pursue RICO claims when seeking to enforce a judgment or assert claims against U.S. parties or assets. Although the plaintiff in this case was the holder of a foreign arbitration award, the Court’s holding suggests that any foreign plaintiff asserting a claim against or seeking to…

In Crypto

United States: Finally, a court decides – XRP, by itself, is not a security. Your turn, Congress.

by 10 Mins Read

In brief On July 13, 2023, Judge Analisa Torres of the Southern District of New York issued an Order on competing motions for summary judgment in the closely followed SEC v. Ripple Labs, Inc. litigation. As the first court decision to broadly address the question of whether a cryptocurrency itself is a security, as the SEC has maintained in most circumstances, the Order may have broad implications to the state of crypto industry regulation in the US.…

In Wiretapping

United States: Third Circuit decision increases risk of wiretapping liability for website operators

by , and 6 Mins Read

In brief In Ashley Popa v. Harriet Carter Gifts, Inc., the Third Circuit reversed a Pennsylvania district court’s grant of summary judgment for defendants on claims that a shopping website and a marketing service violated Pennsylvania anti-wiretapping law by collecting and sharing records of the plaintiff’s digital activities without her consent. This decision is significant because it increases the risk that sharing of electronic data with third-party entities without the consent of the website visitor could…

In False Claims Act

United States: Recent settlement by GCI signals expanded use of False Claims Act

by and 8 Mins Read

In brief On 11 May 2023, GCI Communications Corp. (GCI) agreed to pay more than USD 40 million to the US government to settle allegations that it submitted false claims to the Federal Communications Commission (FCC) by knowingly inflating its prices in a competitive bidding program regulated by the FCC. The investigation began when a former GCI employee, Robert Taylor, filed a qui tam action against the company under the False Claims Act (FCA) after…

In Antitrust

United States: Antitrust Division agrees to mid-trial settlement to resolve merger challenge

by , , and 4 Mins Read

In brief The Antitrust Division of the Department of Justice (DOJ) announced that it reached a settlement in its litigation challenge against ASSA ABLOY AB’s (“Assa Abloy”) proposed USD 4.3 billion acquisition of Spectrum Brand Holding Inc.’s Hardware and Home Improvement division (“Spectrum”). [1] The settlement, which came in the middle of trial and is now subject to court approval, is the first negotiated settlement under DOJ Assistant Attorney General Jonathan Kanter. Notably, comments from the…

In FTC

United States: FTC puts companies on notice that failure to provide support for their product claims could result in civil penalties

by , , and 3 Mins Read

In brief On 13 April 2023, the Federal Trade Commission (FTC) issued a letter containing a Notice of Penalty Offenses Concerning Substantiation of Product Claims to approximately 670 advertisers, putting each company on notice that deceiving consumers with advertisements that make unsubstantiated product claims could subject the company to civil penalties of up to USD 50,120 per violation under 15 U.S.C. § 45(m)(1)(B). The FTC noted that, while the initial distribution of the Notice was specific to those making…

In SEC

United States: SCOTUS upholds district court’s jurisdiction over challenges to SEC and FTC actions

by and 4 Mins Read

In brief On 14 April 2023, the United States Supreme Court issued its opinion in Axon Enterprise, Inc. v. Federal Trade Commission et al., and unanimously held that a litigant challenging the constitutionality of an agency administrative enforcement action need not await the outcome of that action before bringing their constitutionality challenge in federal district court. In depth The Court in Axon Enterprise, Inc. considered two separate matters based on administrative enforcement proceedings: one from the…

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