Lorenzo v. SEC: A (Potential) Expansion of Securities Fraud Liability

On March 27, 2019, the United States Supreme Court decided Lorenzo v. SEC.  Many eyes were on this case, because of its potential to have a significant impact on the scope of securities fraud liability.  Ultimately, the Supreme Court found in favor of the Securities Exchange Commission and held that “dissemination of false or misleading statements with intent to defraud can fall within the scope of Rules 10b–5(a) and (c), as well as the relevant statutory provisions, even if the […] (More →)

Competing Concerns About AI

The dominant form of artificial intelligence in use today is machine learning, which refers to algorithms that use vast sets of data to improve their accuracy in tasks like identifying patterns, labeling information, and predicting outcomes. Machine learning-based artificial intelligence is everywhere—both in the sense that our daily lives constantly intersect with it, and in the sense that we are constantly bombarded with new, often negative, stories about it. For instance, today is April 10th, 2019. In the New York […] (More →)

California’s Gender Board Quota Legislation is Likely Unconstitutional

On September 30, 2018, the former governor of California, Jerry Brown, signed a bill into law that would require publicly held corporations in California to include women on their boards. The law “requires publicly traded corporations headquartered in California to include at least one woman on their boards of directors by the end of 2019 as part of an effort to close the gender gap in business.” Furthermore, by the end of July 2021, the law requires that “a minimum […] (More →)

Disclosure Statements & Tender Offers: Supreme Court to Decide How §14(e) Applies

In April of 2018, the Ninth Circuit split with five other circuits in finding that Section 14(e) of the Securities Exchange Act of 1934 supports an inferred private right of action based on the negligent misstatement or omission made in connection with a tender offer.  The panel reversed the district court’s dismissal and recognized its departure from previous jurisprudence, holding that the first clause of § 14(e) requires only a showing of negligence rather than scienter. The Supreme Court granted […] (More →)

What’s Next for PG&E After Bankruptcy?

Pacific Gas and Electric (PG&E), California’s largest utility company, has set off a political storm in the state after filing for bankruptcy in late January—not least because of its request, in bankruptcy, to pay out more than $230 million in employee bonuses before compensating property owners for losses stemming from California’s recent devastating wildfires. Although PG&E currently has enough assets to outweigh its liabilities, prompting claims that the company has prematurely jumped into bankruptcy protection, the utility company is anticipating […] (More →)

Opportunity Zones: An Opportunity for Art Collectors?

At the end of 2017, when President Trump signed the 2018 Tax Cut and Jobs Act, he got rid of one of the biggest tax benefits for art collectors and investors. Section 1031 of the Internal Revenue Code, which allowed for like-kind exchanges, had previously been used as a tool for investors to defer capital gains on several types of investments. However, the reform limited the use of like-kind exchanges in deferring capital gains tax to only real estate investments. […] (More →)

Website Accessibility For All—Is Your Company ADA Compliant?

What do Core Power Yoga, the Honey Backed Ham Company and Camp Bow Wow Franchising all share in common? All three are recipients of complaints challenging existing website accessibility measures for the blind. While the motivations behind such lawsuits have invited controversy from those labeling them as “drive-by lawsuits,” pursued by self-interested lawyers chasing payouts, the underlying criticism is simple: businesses’ websites need to be more accessible to those who cannot see. As the digital space ekes out more and […] (More →)

The Aftermath of the FBI v. Apple Litigation: the All-Writs Act Explored & Unanswered Privacy Questions

A 2015 mass shooting in San Bernardino spawned one of the most controversial cybersecurity cases of the new millennium. The FBI and Apple litigation in which the FBI sought to compel Apple to create a backdoor to their security systems in order to access the shooter’s phone raised serious issues about privacy and the scope of the All-Writs Act. However, the case never saw a true resolution – the FBI withdrew their case when a third party was able to […] (More →)

Cyborgs in the Workplace? Assessing the Consequences of Employee Microchipping

In August 2017, a Wisconsin-based company implanted microchips fueled by radio-frequency identification technology in its employees on a voluntary basis. Initially, fifty employees—enticed by the notion of swiping into the building, unlocking their computers and paying for purchases with a wave of the hand—opted to have the grain-of-rice-sized microchip injected between their thumb and forefinger. One-year later, a glimpse at this company reveals that the microchip has continued to gain traction; an additional thirty employees have received the microchip implants […] (More →)

Influencers Under Fyre: The Case for Greater Enforcement of FTC Endorsement Guidelines Against Social Media Influencers

In late April of 2017, the Fyre Festival—a “luxury music festival” located on the Bahamian island of Great Exuma—fell apart in spectacular fashion. Fyre failed to deliver on its promises of private jets, gourmet food, and luxury villas. Instead, festival-goers were left stranded on the island, forced to spend the night in repurposed FEMA tents, and infamously served cheese sandwiches, despite tickets priced as high as $250,000. The “festival” became a viral sensation immediately after its cancellation and has re-entered […] (More →)

About CBLR

Columbia Business Law Review is the first legal periodical at a national law school to be devoted solely to the publication of articles focusing on the interaction of the legal profession and the business community. The review publishes three issues yearly, which involve students in the editing of leading articles in business law, as well as the production of student-written notes.