Follow ACC Docket Online:  

News

Weekly News Roundup: Maternity Leave, Climate Change

Here’s what you might have missed this past week in the world of corporate law. Read


The World’s Biggest Data Dump (Soon to be Broken)

More than 2.2 billion passwords and usernames have been posted online. Read


Weekly News Roundup: Ecommerce in India, Corporate Carbon Emissions

From lowering carbon emissions to selecting board members, companies are becoming more transparent. Read


The Impact of the US Government Shutdown on Employers

The longest shutdown in US history lasted 35 days and affected 800,000 federal employees. Read


Apple’s Insider Trading Scandal, Australian Financial Regulators Get New Watchdog

Who’s watching the watchdogs who committed these crimes? Read


In Brief

Today's Top Story

New Zealand Firms Consider Pulling Ads From Social Media After Mass Shooting

Several New Zealand companies are considering whether to withdraw their advertisements on social media. Two industry groups urged them to after last week's mass shooting in Christchurch was live streamed on Facebook and redistributed on other platforms. State-owned Lotto NZ said it had already pulled advertising from social media “as the tone didn't feel right in the aftermath of these events.” The Association of New Zealand Advertisers and the Commercial Communications Council asked all advertisers to consider where they place their ads and challenged Facebook and other platform owners to take steps to moderate hateful content, reports Reuters (18 March, Paul, Duran).

From "New Zealand Firms Consider Pulling Ads From Social Media After Mass Shooting"
Abstract News © 2019 Information, Inc. Read  


Legal Actions

#MeToo Clauses Inserted in Start-Up Deals

In deals with start-ups, tech investors are increasingly including “#MeToo” clauses, forcing entrepreneurs to disclose complaints about sexual harassment in the workplace. Lawyers and deal advisers said these clauses are being used in contracts, due diligence exercises, and codes of conduct, after several high-profile allegations of harassment and discrimination at major tech companies, reports the Financial Times (18 March, Ram).

From "#MeToo Clauses Inserted in Start-Up Deals"
Abstract News © 2019 Information, Inc. Read  


Wirecard Drawn Into Investor Lawsuit

Wirecard has been drawn into a London lawsuit between former minority shareholders of an Indian business who claim they were cheated out of money before the embattled payments company bought the firm in 2015. Hermes I-Tickets Private was sold to a Mauritius-based buyer and then resold just weeks later to Wirecard for at least US$200 million more, according to the suit. Wirecard is not directly accused of wrongdoing in the original lawsuit, but a separate case against the German company was filed last month, reports Bloomberg (15 March, Browning, Casiraghi).

From "Wirecard Drawn Into Investor Lawsuit"
Abstract News © 2019 Information, Inc. Read  


Mergers and Acquisitions

Fidelity National Information Services to Buy Worldpay

The Wall Street Journal (18 March, Dummett) reports that Fidelity National Information Services has agreed to acquire Worldpay for US$35 billion. The deal creates a global payments giant, with Fidelity angling to reach more customers as merchants and their clients vie for an increasing number of transactions online. The deal marks one of the largest transactions in the fast-consolidating payments sector that is under pressure to slash costs, add customers, and develop new products. It also comes at a time of rising competition from technology startups and greater regulatory scrutiny.

From "Fidelity National Information Services to Buy Worldpay"
Abstract News © 2019 Information, Inc. Read  


Deutsche Bank and Commerzbank Confirm Merger Talks

Deutsche Bank and Commerzbank have confirmed they are in talks to possibly merge, reports CNBC News (17 March). The announcement followed meetings of the management boards of both banks. Deutsche said in a statement that there was no certainty of a deal and that its board was "focused on improving the growth profile and profitability of the bank." Commerzbank, meanwhile, described the outcome as "open." Germany's government has pushed for a combination amid concerns about the health of Deutsche, which has struggled to generate sustainable profits since the 2008 economic meltdown.

From "Deutsche Bank and Commerzbank Confirm Merger Talks"
Abstract News © 2019 Information, Inc. Read  


Information Security

EU Citizens Being Tracked on Sensitive Government Sites, Study Finds

A study has found that EU governments are allowing more than 100 advertising companies to track citizens across sensitive public sector websites, in apparent violation of their own EU data protection rules. Danish browser-analysis company Cookiebot found ad trackers, which log users' locations, devices, and browsing behaviors for advertisers, on the official government websites of 25 EU member states. Google, YouTube, and DoubleClick, Google's advertising platform, accounted for three of the top five tracking domains on 22 of the main government websites, reports the Financial Times (17 March, Murgia).

From "EU Citizens Being Tracked on Sensitive Government Sites, Study Finds"
Abstract News © 2019 Information, Inc. Read  


Finance

HSBC Urges Staff to Speak Up About Misconduct

George Elhedery, HSBC's new head of global markets, is encouraging employees to speak up, months after his predecessor, Thibaut de Roux, left the bank after a misconduct claim from a junior female employee. Reported cases of alleged harassment have increased pressure on companies to improve their handling of misconduct claims. HSBC has also refreshed its conduct website for global banking and markets staff this week, aiming to strengthen the unit's “conduct and behaviors,” reports Bloomberg (17 March, Wilson, Spezzati).

From "HSBC Urges Staff to Speak Up About Misconduct"
Abstract News © 2019 Information, Inc. Read  


Technology

Tech Giants Face a Reckoning, State Attorneys General Warn

Several state attorneys general are warning that they are willing to take action against large tech giants, such as Google and Facebook, which they say have amassed too much personal information about Web users and harnessed it in a way that's jeopardized people's privacy and undermined competition. Some state officials argue that the federal government is partly to blame for the tech industry's string of scandals since federal agencies have allowed many of the mishaps at Facebook and Google to go unpunished, reports the Washington Post (15 March, Romm). States such as Arizona and Mississippi are taking aim at Google for the way it collects and monetizes Web users' data. Meanwhile, Washington state is challenging Facebook's business practices in court.

From "Tech Giants Face a Reckoning, State Attorneys General Warn"
Abstract News © 2019 Information, Inc. Read  


Economic Outlook

Brazil Airport Auction Serves as Litmus Test for Privatization Plans

Flughafen Zurichand Aena SME have won concessions to operate airports in Brazil. Infrastructure Minister Tarcisio Gomes de Freitas said the auction was just one of the government's initiatives to stimulate the sector, reports Bloomberg (15 March, Moura, Andrade). The tender was seen as a test of investors' appetite toward President Jair Bolsonaro's business-friendly agenda that includes a massive privatization plan.

From "Brazil Airport Auction Serves as Litmus Test for Privatization Plans"
Abstract News © 2019 Information, Inc. Read  


Retail

StarKist Reaches Tuna Price-Fixing Settlement With Retailers

Starkist has reached a settlement to resolve antitrust complaints from a group of retailers after it admitted that it conspired with other companies to raise prices of canned tuna. Financial terms of the settlement with Kroger and 32 other retailers were not disclosed. However, a similar settlement Starkist reached with Walmart was worth US$20.5 million at the time, reports the Wall Street Journal (15 March, Armental).

From "StarKist Reaches Tuna Price-Fixing Settlement With Retailers"
Abstract News © 2019 Information, Inc. Read  


Media

CBS Board Agrees to Sumner Redstone Lawsuit Settlement

The Los Angeles Times (15 March) reports that the board of directors of CBS on Friday agreed to pay US$1.25 million to settle investors' claims that Sumner Redstone received millions of dollars in improper compensation after the network owner became incapacitated in 2014. The settlement resolves what may be the last lawsuit over the corporate fallout from Redstone's physical decline and jockeying over control of CBS and Viacom, both of which are owned by the Redstone family. Sumner's daughter, Shari Redstone, has assumed a larger role on both companies' boards.

From "CBS Board Agrees to Sumner Redstone Lawsuit Settlement"
Abstract News © 2019 Information, Inc. Read  


Upcoming Events