News

Twitter Faces Legal Battle Over $90 Million Fee in Elon Musk Acquisition - Twitter faces a legal showdown over a $90 million fee tied to Elon Musk's $44 billion acquisition. The lawsuit, against law firm Wachtell, Lipton, Rosen & Katz, centers on claims of 'unjust enrichment' amidst a backdrop of high-stakes corporate disputes and high-profile acquisitions. 

Microsoft / Activision Blizzard Merger Delays - The two companies agreed to extend their merger agreement pending the outcome of negotiations with UK regulators in the highest profile M&A deal of the year.

UN Security Council Discusses Benefits + Risks of AI - UN Secretary-General Antonio Guterres called for a global approach to AI legislation and governance, proposing a new UN institution to assist countries in using AI responsibly while mitigating potential hazards.

Metas LLaMA2 AI Language Model to be Free - Meta hopes that by making it open-source and free for anyone to use, it will be able to compete with rivals like OpenAI's GPT-4 (and beyond). Meta has not yet released info about the data set used. 

FTX Sues Sam Bankman-Fried - The former CEO (as well as other former executives) is being sued for $1B by FTX to recover funds that were allegedly misappropriated. 

Cyberattacks Continue to Rise Worldwide - Ransomware attacks are increasing, making up nearly 70% of cyberattacks according to a report from Blake, Cassels & Graydon. 66% of organizations targeted in ransomware attacks this year have paid a ransom (increased from 56% last year), and the median ransom paid has surged by 170% over the last two years, reaching $413,000. 

ECJ Rules: Competition Authorities Can ID Violations - The European Court of Justice has allowed competition authorities to identify violation of data protection rules when necessary to establish an abuse of dominance under competition rules.

Gender Pay Gap Narrowest on Record - Full-time US working women now earn about 84% of what their male counterparts earn - the closest ratio since the government started collecting data in 1979. 

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