On November 12, 2024, the U.S. Department of Justice (“DOJ”) published updated guidance on how the DOJ’s Antitrust Division will evaluate corporate compliance programs when making charging decisions and sentencing recommendations relating to criminal antitrust violations, such as bid-rigging, price-fixing, and market allocation schemes.[1] Notably, the new guidance for the first time instructs Antitrust
Trump Selects “Anti-Gensler” for SEC Chair
As D&O insurance professionals try to assess the potential impact on the industry from Donald Trump’s return to the White House next month, one area of focus has been on the Trump’s appointment powers. This includes, obviously, the President’s authority to appoint judges to the federal judiciary, but in addition involves his power to make
Wilson Sonsini Discusses the New National Security Rules for Investing U.S. Capital
In late October 2024, the U.S. Treasury Department (Treasury) issued its final rules (the Outbound Rules) implementing President Biden’s Executive Order (EO) 14105 on “outbound” U.S. investment. See our prior mailers here and here. The Outbound Rules will take effect on January 2, 2025, and will add a new layer of diligence to most
Antitrust During Trump 2.0: It’s Complicated
What antitrust enforcement will look like during a second Trump administration is, like antitrust law, complicated. Notions that Republicans are pro-business and therefore will take a laissez-faire approach to antitrust enforcement are outdated and simplistic. During Trump’s first term, antitrust enforcement was far from moribund, blending traditional Republican preferences for deregulation with a populist skepticism
Guest Post: “Mission Critical”: Director Liability Ticking Time Bomb
Recent case law developments in Delaware’s courts underscore the importance for corporate boards to monitor “mission critical” operations at their companies. These developments have important corporate governance implications, as I detailed in a September blog post (here). In the following guest post, Tim J. Leach, FCPA FCA Managing Director Risk
How Could Quantum Computing Change the Technology Landscape?
After building for some time, the excitement surrounding the potential of quantum computing has recently gained momentum. Quantum computing attracted $1.2 billion from venture capitalists in 2023 even as overall investment in technology dropped. Given that quantum computing has yet to perform a real-world use case, why is investment in this area so strong?
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FTC Updates (November 18-29, 2024)
The FTC’s activity in the leadup to Thanksgiving and Black Friday involved, appropriately enough, numerous consumer protection updates. The agency called funeral homes, investigated smart device manufacturers’ websites, and expanded a telemarketing rule to target tech support scammers. The Commission also announced an online workshop about predatory pricing, and reached a settlement related to an
Ten Things: Things You Can (and Should) Delegate
I have written a lot about delegation, both in the blog and in my last two books, Showing the Value of the Legal Department and The Productive In-House Lawyer. Specifically, I write a lot about why delegation is important and how to do it. This past week or so it has dawned on me
From Algorithms to Altruism: Risks and Rewards of xAI’s Benefit Corporation Strategy
The Wall Street Journal recently reported that xAI, the artificial intelligence startup founded by Elon Musk, completed a funding round of $5 billion at a pre-money valuation of $45 billion ($50 billion post-money). Rumored to participate in the round according to the Journal were Sequoia Capital, a16z and Valor Equity Partners. One could hardly blame
From Algorithms to Altruism: Risks and Rewards of xAI’s Benefit Corporation Strategy
The Wall Street Journal recently reported that xAI, the artificial intelligence startup founded by Elon Musk, completed a funding round of $5 billion at a pre-money valuation of $45 billion ($50 billion post-money). Rumored to participate in the round according to the Journal were Sequoia Capital, a16z and Valor Equity Partners. One could hardly blame