The Children’s Advertising Review Unit (CARU) of BBB National Programs issued a new compliance warning aimed at addressing the use of artificial intelligence (AI) in advertisements and data collection efforts targeted at children. The warning emphasizes that CARU will “strictly enforce” its Advertising and Privacy Guidelines for advertisers, brands, influencers and manufacturers that utilize AI
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Unpacking Recent Supreme Court Case and the Implications for Development Impact Fees
Development impact fees, a common tool used by local governments to fund public infrastructure and services, play a crucial role in the process of urban and suburban growth. These fees are levied on developers in conjunction with new construction or revitalization projects to offset the costs associated with increased demand for roads, schools, utilities and…
FTC Issues Record Penalty Against Williams-Sonoma for Made in USA Claims
The FTC has made its position on violations of “Made in USA” standards clear, and Williams-Sonoma received an expensive repeat reminder. On Thursday, April 25, the agency announced a settlement with the home goods retailer, directing Williams-Sonoma to pay an unprecedented civil penalty of $3.175 million for violating a 2020 FTC order requiring the company…
Supreme Court Rules that MD&A Omission Does Not Give Rise to a Claim for Securities Fraud
On April 12, 2024, the Supreme Court issued a highly-anticipated decision in Macquarie Infrastructure Corp. v. Moab Partners, L.P., ruling that a “pure omission” is not actionable in private litigation under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) thereunder, even if the omitted information was required to be disclosed pursuant…
FTC Poised to Finalize Noncompete Rule
In January 2023, the FTC announced a proposed rule that would ban employers from imposing noncompetes on employees. After collecting over 26,000 public comments during the 90-day notice and comment period, the FTC announced a special Open Commission Meeting set to take place on Tuesday, April 23, 2024 to discuss the implications of the proposed…
California Wage Hike Law for Fast Food Workers Generates Uncertainty for Some Employers
On April 1, 2024, California’s Assembly Bill No.1228 (“AB 1228”) took effect, making the state’s fast food workers the highest paid in the United States. However, uncertainty regarding precisely who is covered under the new law has left some employers reeling, as the stakes for complying with California’s Labor Code remain as high as ever.…
California Ruling Shows Limits of Exculpatory Lease Clauses
In the realm of commercial leasing, the fine print of contracts can often hold significant consequences for both landlords and tenants. One area where contention often arises is with exculpatory clauses, which routinely aim to absolve landlords from responsibility for injuries or damages suffered by tenants or third parties, even if those harms result from…
AI in Real Estate: Prospects and Pitfalls
By Jimmy Bui
Artificial intelligence (“AI”) is often touted as the latest transformative technology set to revolutionize the commercial real estate industry. This may seem like grandstanding, but the hype is real. AI is already being implemented by law firms and their clients to streamline business processes. AI, however, is ultimately a tool and whether tools make our…
Recent Gensler Speech Highlights SEC’s Two-Fold AI Disclosure Concerns
In a speech before the Yale Law School February 2024, SEC Chair Gary Gensler had AI top of mind. Interrupted only by a colorful collection of movie references, Chair Gensler focused almost the entirety of his remarks on AI and the SEC’s corresponding regulatory duties. Chair Gensler addressed the risks associated with AI while cautioning…
SEC Adopts Long-Awaited Final Climate Disclosure Rules
On March 6, 2024, by a party-line vote of 3-2, the US Securities and Exchange Commission (SEC) adopted final rules (entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors”) requiring most public companies to disclose climate-related information in registration statements and annual reports filed with the SEC. The SEC first proposed climate disclosure rules…