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On February 11, Michael Kurzer, partner in our Technology Transactions & Intellectual Property group along with Kevin Szczepanski, Co-Chair of the Data Security & Technology Practice Area at Barclay Damon join Jill Malandrino on Nasdaq TradeTalks to discuss cybersecurity litigation trends on the state and federal levels and what that means for corporate compliance amid rising cyber threats and evolving regulations.
On January 13, 2025, Texas Attorney General Ken Paxton (“Texas AG”) filed the first-ever enforcement action under the Texas Data Privacy and Security Act (“TDPSA”) against insurance company Allstate and its subsidiary, Arity (collectively, “Defendants”).
V&E Data Privacy Update
On January 13, 2025, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against Ashford Inc. (“Ashford” or “the Company”), a company that provides products and services to the real estate and hospitality industries, for making false and misleading disclosures about a cybersecurity incident that exposed sensitive hotel customer information.
V&E Cybersecurity Update
Proposed cybersecurity regulation may face changes or challenges in view of the incoming Trump administration that is intent on reducing the perceived regulatory burden on American companies and streamlining government operations. Still, the incoming administration is not likely to dismiss the importance of cybersecurity for the nation, but will aim to balance the need for collaboration and awareness with the reasonable demands on the private sector.
On October 15, 2024, the Department of Defense (“DoD”) released its final rule (the “Final Rule”) formally establishing the Cybersecurity Maturity Model Certification (“CMMC”) program, nearly three years after first announcing its plan for the initiative.
V&E Government Contracts Update
Welcome to Vinson & Elkins’ Securities and ESG Updates.
V&E Securities & ESG Update
On July 30, 2024, Meta Platforms, Inc. (formerly known as Facebook, Inc.) agreed to pay $1.4 billion to the State of Texas to settle a lawsuit alleging that Meta unlawfully captured and used biometric identifiers of millions of Texans without their consent.
V&E Data Privacy Update
The Texas Data Privacy and Security Act (“TDPSA” or the “Act”) came into effect on July 1, 2024.
V&E Data Privacy Update
The story of artificial intelligence (“AI”) is one of technological promise and societal challenge, and its impact on the U.S. electric power grid is fast becoming a pivotal chapter.
The facts are an oft-told business email compromise horror story: a hacker interjects themselves into an email discussion of a business deal, changes the wire instructions to their own account, and disappears with the misdirected funds.
V&E Cybersecurity Update
On February 28, 2024, President Joe Biden issued a landmark Executive Order titled “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern” (the “Order”).
V&E Data Privacy Update
Public companies are now required to comply with new cybersecurity disclosure requirements in their Annual Reports on Form 10-K for fiscal years ending on or after December 15, 2023.
V&E Cybersecurity Update