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Welcome to Vinson & Elkins’ Securities and ESG Updates.
V&E Securities & ESG Update
On September 16, 2024, the United States Securities and Exchange Commission (“SEC” or the “Commission”) brought charges against Kubient, Inc.’s (“Kubient”) former chairman and chief executive officer (“CEO”) for allegedly fabricating reports that the company had successfully tested its AI-supported software program, causing the company to overstate and misrepresent its revenue in connection with two public stock offerings.
Jeffrey Jakubiak, Energy Regulation Partner at Vinson & Elkins and Joe Zimmerman, Mayor of Sugar Land, Texas, join Jill Malandrino on Nasdaq TradeTalks to discuss the impact of AI on the U.S. electric power grid and why it has enormous potential to reshape the energy landscape.
With the advancements in artificial intelligence (AI), data centre demand is growing exponentially, increasing the pressure on technology giants and the construction industry to design, procure and construct new data centres more innovatively, quickly and sustainably around the globe.
Published by New Civil Engineer
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
Many companies are considering or currently engaging in acquisitions or investments in startups and established providers of artificial intelligence (“AI”) technology.
On June 11, 2024, the United States Securities and Exchange Commission (the “SEC”) charged Illit Raz, the former CEO and founder of the since-shut-down artificial intelligence recruiting startup Joonko Diversity Inc. (“Joonko”), with defrauding investors by making false and misleading statements about a number of items — including the sophistication of the company’s technology.
Since generative AI burst into the mainstream, companies have raced to capitalize on its extraordinary promise. But as with any technological frontier, this promise does not come without risks, and companies can expect to encounter them with greater frequency as AI’s role in the economy continues to grow.
Energy Regulation Partner Jeffrey Jakubiak provides his thoughts on the growing need for electric infrastructure to support the growing need for the supply of power to the growing server farms serving AI and related resources.
V&E Energy Update
Antitrust issues have cut deeply into the corporate landscape, and this year is shaping up for more of the same. Generative artificial intelligence, merger enforcement, and trial risks stand out as three of the most important antitrust considerations companies should have top of mind in 2024.
Published by Bloomberg Law
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.