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2 weeks ago | 
news.bloombergtax.com | Jeff Harrington |Catalina Camia
Target Corp., facing financial headwinds and pushback over its diversity, equity, and inclusion initiatives, has dismissed two executives who have backed DEI efforts, including a chief legal and compliance officer it hired nine months ago.
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2 weeks ago | 
news.bloombergtax.com | Cassandre Coyer |Catalina Camia |Jeff Harrington |David Jolly
A crucial step in handling the sale of genetic data from over 15 million 23andMe customers now rests largely in the hands of a law professor. The May 19 announcement that Regeneron Pharmaceuticals Inc. will buy most of the assets of the bankrupt genetic testing provider started a countdown for Washington University School of Law professor Neil Richards, the court-appointed privacy ombudsman, to investigate the company’s privacy policies.
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2 weeks ago | 
news.bloombergtax.com | Evan Ochsner |Catalina Camia
Legora, the legal AI startup that’s taking aim at the U.S. legal market, raised $80 million in a startup funding round that values the company at $675 million. The announcement Wednesday continues an eventful year for Legora, which was founded in Sweden in 2023. The startup has changed its name from Leya to Legora, formally launched in the US, and announced partnerships with big law firms Cleary Gottlieb and Goodwin Procter.
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2 weeks ago | 
news.bloombergtax.com | Evan Ochsner |Catalina Camia
To get the most bang for the buck from contracting software, corporate legal teams need to do a lot of things right. Contract lifecycle management software, many vendors say, can make some of the legal department’s core functions more efficient by providing cloud storage and automated redlining. A CLM system can help a legal department manage all agreements, from drafting and negotiation to execution, monitoring, and termination.
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3 weeks ago | 
news.bloombergtax.com | Catalina Camia |Jeff Harrington
Mayer Brown and Wilson Sonsini Goodrich & Rosati are taking a page from venture capital companies, bringing in experienced corporate lawyers for short stints at the firms so they can share their business knowledge with clients and get a chance to expand their skills. “The program allows us to provide our clients with more practical, insider perspectives on the challenges and opportunities they face,” said Nina Flax, a partner in Mayer Brown’s Northern California office.
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1 month ago | 
news.bloombergtax.com | Evan Ochsner |Catalina Camia |Jeff Harrington
Generative AI use is increasing the quantity of work done by some in-house legal professionals but also freeing up their time to work on higher-level tasks, according to a new Bloomberg Law survey. About 41% of respondents to Bloomberg Law’s State of Practice survey said use of gen AI has increased the amount of time they spend on higher-level tasks. Nearly four in 10 said artificial intelligence has increased the quantity of work done in-house.
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1 month ago | 
news.bloombergtax.com | Catalina Camia
President Donald Trump’s deal with four law firms contains no specifics about how they’re going to make good on their $500 million pledge of free legal services, but a separate agreement with the US Equal Employment Opportunity Commission requires ongoing reporting about their compliance. The firms struck deals in tandem with Trump and the EEOC to avoid punitive executive orders and resolve a federal probe of their diversity hiring programs.
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1 month ago | 
news.bloombergtax.com | Catalina Camia |David Jolly
Match Group Inc. chief legal officer Sean Edgett received a total compensation package valued at nearly $6.1 million after joining the dating application company late last year. Dallas-based Match, owner of brands like Match.com, Tinder, PlentyOfFish, OkCupid, and Hinge, recruited Edgett, a former Twitter Inc. general counsel, following the departure of its chief business affairs and legal officer Jared Sine, who was named chief strategy and legal officer for GoDaddy Inc.
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1 month ago | 
news.bloombergtax.com | Andrew Ramonas |Catalina Camia
Build-A-Bear Workshop Inc. is bracing for fewer profits as its stuffed animals and other merchandise imported from China and Vietnam are expected to cost more amid the Trump administration’s trade war. The teddy bear retailer told investors in its annual 10-K report Thursday that President Donald Trump’s tariffs on Chinese and Vietnamese goods pose a “significant risk to our business operations.” Trump has put levies of at least 145% on imports from China.
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2 months ago | 
news.bloombergtax.com | Catalina Camia
The EU’s sweeping AI Act went into effect earlier this year, with some of the law’s most important provisions still on the horizon. Corporate leaders shared best practices for setting up teams and procedures to prepare for the EU AI Act, and discussed how a good privacy and data governance program is the most useful foundation for complying with the new law. Their email responses to Bloomberg Law’s questions were edited for clarity. Download our full report on the EU AI Act.
