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2 weeks ago | 
news.bloombergtax.com | Cassandre Coyer |Jeff Harrington |Catalina Camia
The consumer privacy ombudsman tasked with analyzing the impact of 23andMe’s bankruptcy sale on individuals’ privacy has called for users’ consent before the sale of the company’s vast trove of genetic data receives court approval. Neil M. Richards told the bankruptcy judge that he couldn’t “conclude with certainty” that the sale of millions of customers’ genetic data is consistent with 23andMe’s privacy policy and statements.
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2 weeks ago | 
news.bloombergtax.com | Cassandre Coyer |Jeff Harrington |Catalina Camia
Companies are at risk of losing a longtime partnership with the federal government in the fight against cyber criminals who wield stolen and fake identities to commit fraud, infiltrate business networks, and divert funds. President Donald J. Trump’s June 6 cybersecurity executive order ignored decade-old efforts to strengthen digital identity verification and stripped away more recent agency directions given by President Joe Biden.
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3 weeks ago | 
news.bloombergtax.com | Andrew Ramonas |Jeff Harrington |Catalina Camia
The SEC can keep 2020 rules that activist investors say stop some environmental, social and governance proposals from getting votes at companies’ annual meetings, a federal judge ruled Thursday. The Securities and Exchange Commission acted appropriately when it adopted the shareholder proposal submission standards aimed at small investors during the first Trump administration, Judge Reggie B. Walton of the US District Court for the District of Columbia said in an opinion.
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1 month 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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1 month 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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1 month 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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1 month 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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1 month 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.
