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Has Anything Changed?
While securities litigation has been increasing as a long-term trend, there is no increase in the number of filings or the size of settlements as a result of either Enron or Sarbanes-Oxley. The only marked change is in the number of cases that judges dismiss.
This absence of change in no way suggests that the Act is ineffective. It was designed as a deterrent to fraud. To measure its success, the real question is whether it will reduce the amount of fraud committed, such that fewer filings occur in the future. The Act's major levers to deter fraud are increased accountability of management and board members, new criminal penalties, and increased oversight requirements. However, it also included an extension of the time to file securities class action suits to 2 years after the disclosure of fraud. Therefore, it may take several years of ongoing monitoring to assess The Act's effectiveness.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.