Navigating the Legal Landscape: Key Industry Updates (February 2024)

Last Updated: Feb 1, 2024

The EU Lays The Techno-Legal Tracks For Its Rising Digital Ecosystem

In the US, it's widely accepted that major online platforms control and profit from our personal data, including vital information like social security numbers and biometrics. In contrast, the European Union is poised for a significant shift in personal identity verification. New legislation will empower EU citizens with digital identity wallets, enhancing ease and security in their online interactions.

Source: Forbes

Legal AI Startup Spellbook Raises $20m as Sector Draws More Investments

Spellbook, a legal software company, disclosed Wednesday it raised $20 million in a Series A round led by Montreal-based Inovia Capital. The round also saw participation from investors including The Legaltech Fund, Bling Capital, and Thomson Reuters Ventures.

Source: Reuters

Evergrande Liquidation to Test Hong Kong’s Legal Reach in Mainland China

The prospects of international investors for recuperation from a financially beleaguered developer hinge significantly on legal proceedings taking place across borders. These investors are eagerly eyeing the outcome of court decisions as they navigate the complexities of debt recovery and seek avenues for potential resolution.

Source: Financial Times

Marilyn Manson Ordered to Pay Evan Rachel Wood’s Six-Figure Legal Tab for Nixed Lawsuit Claims

Brian Warner, known professionally as Marilyn Manson, has been instructed to pay Evan Rachel Wood a hefty sum of $326,956. This amount is to cover the legal expenses incurred by the Westworld actress in defending herself against defamation and emotional distress claims, which were previously dismissed from Manson's ongoing lawsuit against her.

Source: Rolling Stone

Venezuelan Legal Drama Shakes Energy Markets

Following a protracted and intricate legal dispute, a verdict delivered in January 2023 determined that Citgo, the American-based oil subsidiary owned by Venezuela, responsible for facilitating Caracas' access to global energy markets, is accountable for debts owed by Venezuela's state-owned oil company, PDVSA. This ruling, issued despite Citgo's operational independence from the Venezuelan government for several years, has the potential to redefine the dynamics among state-owned enterprises, debt obligations, and global markets on a significant scale.

Source: Forbes

Navigating the Legal Landscape of Four-day Work Weeks

In the 1920s, Henry Ford revolutionized the work week by establishing the 9-to-5 five-day model without cutting pay. Today, with remote work and technology efficiency, employers consider following suit. Enter the four-day work week, gaining popularity since the pandemic.

Source: Games Industry

Daily Mirror Faces £2m in Legal Costs over Prince Harry Phone Hacking

The Daily Mirror faces a nearly £2m claim in legal fees following Prince Harry's successful phone-hacking case against the publisher. Justice Fancourt recently found extensive hacking at Mirror Group Newspapers from 2006 to 2011.

Source: The Guardian

Uber Files Legal Appeal against Paris Mayor’s Transport Restrictions

Uber have announced that they are lodging a legal appeal against the Paris mayor's office regarding regulations imposed on tourist vehicles with drivers (VTCs) in the city. Uber warned that these restrictions could potentially lead to transportation issues in Paris during the upcoming Olympic Games this summer.