Corp & Business Ass'n

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The Limitations of Privacy Reform Rooted in Interest Convergence

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By Margaret Foster

A year and a half ago, Governor Jerry Brown signed into law the California Consumer Protection Act, which went into effect on January 1, 2020. Though the bill was simultaneously hailed as a “groundbreaking,” “extremely powerful,” “landmark law,” and criticized as a “punitive . . . mistake,” there’s no dispute that it is currently the strongest privacy law in America, garnering comparisons to the European Union’s sweeping General Data Protection Regulation (GDPR). Kari Paul, California’s Groundbreaking Privacy Law Takes Effect in January. What Does It Do?, The Guardian (Dec. 30, 2019); Zack Whittaker, Silicon Valley Is Terrified of California’s Privacy Law. Good., TechCrunch (Sept. 19, 2019); Natasha Singer, Group Behind California Privacy Law Aims to Strengthen It, The New York Times (Sept. 24, 2019) . . .

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Data Privacy & Corporate Governance

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By Nimesha Perera

It is 2020 and the new California Consumer Privacy Act has gone into effect. John Stephens, California Consumer Privacy Act, American Bar Association (Fe. 14, 2019), https://www.americanbar.org/groups/business_law/publications/committee_newsletters/bcl/2019/201902/fa_9/. Facebook is publicly dealing with its groundbreaking $5 billion fine from the Federal Trade Commission (“FTC”) over data privacy concerns. See Brian Fung, Facebook will pay an unprecedented $5 billion penalty over privacy breaches, CNN (July 25, 2019); Michael Nunez, FTC Slaps Facebook With $5 Billion Fine, Forces New Privacy Controls, Forbes (July 24, 2019). Amazon is fiercely promoting its creatively titled facial recognition program “Amazon Rekognition” in the face of criticisms . . .

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Following the 2018 Supreme Court Decision Striking Down a Federal Ban on Sports Gambling: Should States Look to Bet and Cash In?

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By Matthew Netti

As Justice Alito expressed in his majority opinion in a 2018 Supreme Court decision, “[t]he legalization of sports gambling is a controversial subject.” Murphy v. Nat’l Collegiate Athletic Ass’n, 138 S. Ct. 1461, 1484 (2018). Not only is the subject controversial; the effect it has on the country moving forward is unpredictable . . .

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The Business Roundtable’s New Statement on a Corporation’s Purpose: Embody or Avoid?

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By Andrew Farrington

Since 1978, the Business Roundtable, an association of chief executive officers of America’s leading companies, has been issuing annual statements regarding the purpose of a corporation. Each statement, from 1978 to 2018, has claimed that “corporations exist principally to serve shareholders.” Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’, Business Roundtable (Aug. 19, 2019). However, on August 19, 2019, the Business Roundtable, led by Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co., redefined the purpose of a corporation to include all stakeholders, namely a corporation’s customers, employees, suppliers, communities, and shareholders. Id. . . .

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FCC Chair Signals Possible End to Sinclair-Tribune Deal

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By Elena J. Despotopulos

On May 8, 2017, Tribune Media Company and Sinclair Broadcast Group announced the planned acquisition of Tribune by Sinclair, a deal that will cost Sinclair $3.9 billion, as well as the assumption of $2.7 billion in debt. See Gary Weitman, Sinclair Broadcast Group To Acquire Tribune Media Company For Approximately $3.9 Billion, Tribune Media (May 8, 2017, 1:00PM). If approved, Sinclair will acquire Tribune’s 42 television stations in 33 markets, bringing Sinclair’s total ownership, operation, or service provision to 233 television stations in 108 markets. Id. Sinclair will own and operate the largest number of stations of any station group. See Sinclair and Tribune, MB Docket 17-179, FCC.gov (last visited July 19, 2018) . . .