News

Fox Settles with Dominion for $787.5M - The defamation suit reached a settlement this week, just hours before the two companies were scheduled to go to trial. The news conglomerate agreed to pay the voting systems company over the allegations of defamation during the 2020 presidential election.

Thomson Reuters to Sell Majority Stake in its legal financial and practice management solutions suite, Elite, to global asset management firm TPG. The deal is valued at $500M. 

US Tech Companies Push Legislation to Ban TikTok in the US - The Information Technology Industry Council (representing companies such as Apple and Microsoft) is lobbying to narrow the legislation to keep themselves out of harms' way with a new bill gaining momentum aimed at banning TikTok in the US. 

Having Legal Tech Metrics Raises In-House Efficiency - Bloomberg Law's Legal Operations & Technology Survey 2023 shows most non-law firm organizations are using one or more metrics to determine the value of their legal tech. The top metrics involve cost, feedback and ease of use.  

The ABA Has Disclosed a Data Breach involving 1.5M member accounts. While the stolen passwords were encrypted, the breach raises concerns over potential abuse of credentials. 

The 10 Most Significant Legal Tech Developments since 2010 - Robert Ambrogi, lawyer and journalist, lists the most significant changes in legal tech in the last decade; the top three being the rise of the startup, AI, and the use of the cloud. 

"Fake Drake" AI Song Throws Music Industry In a Panic - Universal Music Group responded to the AI-generated Drake-like "Heart on my Sleeve" that blew up on streaming platforms with concern for violations of copyright law. The track has since been pulled from streaming but managed 230k plays on YouTube and over 625k on Spotify. 

Meta Begins Another Round of Layoffs - The social media conglomerate announced the first wave of ~10k employees is focused on technical roles. Business positions (such as finance and legal) will be cut in May.

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