Tracking Key Shifts in the Legal Ecosystem
Each week, the Law.com Barometer newsletter, powered by the ALM Global Newsroom and Legalweek brings you the trends, disruptions, and shifts our reporters and editors are tracking through coverage spanning every beat and region across the ALM Global Newsroom. The micro-topic coverage will not only help you navigate the changing legal landscape but also prepare you to discuss these shifts with thousands of legal leaders at Legalweek 2024, taking place January 29 to February 1, 2024 in New York City. Stay tuned for more information.
The Shift: The Growing Regulatory Focus on Data Privacy
There is no denying that in-house counsel are facing growing challenges when it comes to addressing the rapidly changing legal and regulatory environment around the intersection of data and privacy.
In fact, per the Association of Corporate Counsel's annual survey, cybersecurity regulation and compliance and data privacy remain the top issues ranked by chief legal officers as the most critical aspects to the overall business.
One significant reason for this concern is the ever-growing patchwork that is data privacy law in the U.S. The most recent addition being Iowa, the sixth state to boast of its own consumer data privacy statute which is set to go into effect on Jan.1, 2025.
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Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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