In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Saverio Valentino, Board member of the Italian Antitrust Authority. The conversation covers Saverio’s first year in the role, the agency’s current priorities, merger
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Delaware Court of Chancery Invalidates Common Provisions in Stockholder Agreements
With a stroke of the pen, the Delaware Court of Chancery invalidated commonplace provisions in scores of stockholder agreements relating to public corporations and likely many more relating to private corporations. In West Palm Beach Firefighters’ Pension Fund v. Moelis…
Fourth Circuit Vacates $1 Billion Damages Award in Music Piracy Lawsuit
Last week the Fourth Circuit reversed a $1 billion copyright verdict against an internet service provider and ordered a new trial on damages allegedly arising from illegal music downloads by its subscribers. In Sony Music Entertainment et al. v. Cox…
Updates to the Critical and Emerging Technologies List Signal Refinement of Focus
The U.S. National Science and Technology Council (NSTC)[1] recently published an updated list of critical and emerging technologies (CETs) as part of an ongoing effort to identify advanced technologies that are potentially significant to U.S. national security. We previously…
The French Competition Authority publishes its roadmap for 2024-2025
On February 27, 2024, the French Competition Authority (“FCA”) published its roadmap for 2024-2025 as every year,[1] outlining its enforcement priorities for the year ahead. The FCA emphasized the need to take action in the same key areas of…
UPSTO Issues “Significant” Guidance on Patentability of AI-Assisted Inventions, but unlike USCO, Does Not Require Disclosure of AI Involvement
The United States Patent and Trademark Office (“USPTO”) issued guidance on February 13, 2024 (the “Guidance”) regarding the patentability of inventions created or developed with the assistance of artificial intelligence (“AI”), a novel issue on which the USPTO has been…
FinCEN Tries Again . . . to Impose AML Requirements on Investment Advisers
On February 15, 2024, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) released a notice of proposed rulemaking (the “Proposed Rule”)[1] that would impose anti-money laundering/countering the financing of terrorism (“AML/CFT”) compliance obligations on SEC-registered investment advisers (“RIAs”)…
Overall number of German FDI screenings slightly dropped in 2023, but review follows the trends of prior years
The German FDI authority, the Federal Ministry for Economic Affairs and Climate Action (“BMWK”), has published the German FDI screening statistics for 2023.[1]…
Impact of Recent U.S. Secondary Sanctions Authority Targeting Foreign Financial Institutions Supporting Russia’s Military-Industrial Base
As the second anniversary of the conflict in Ukraine approaches, the United States, the European Union, and the United Kingdom continue to focus on and tighten sanctions against Russia, with a particular emphasis on preventing circumvention and evasion of sanctions. …
Court Dismisses Most Claims in Authors’ Lawsuit Against OpenAI
This week saw yet another California federal court dismiss copyright and related claims arising out of the training and output of a generative AI model in Tremblay v. OpenAI, Inc.,[1]a putative class action filed on behalf of a…