The pandemic brought about a shift in how investments are discussed online and has increased the influence social media has on the market. Social media is playing a larger role in the way ordinary retail investors understand and interact with today’s markets. Whether with investments in cryptocurrencies, NFT projects, or traditional security exchanges, social media’s … Continue reading
As a follow up to our previous posts on digital assets and social media, the Federal Trade Commission recently published a Consumer Protection Data Spotlight on June 3, 2022. In the post, the FTC provides insights on the fraud reports submitted to the FTC from January 1, 2021 to March 31, 2022. According to the … Continue reading
On May 23, 2022, the Eleventh Circuit upheld an injunction on parts of Florida’s controversial social media “censorship” law, S.B. 7072, in NetChoice, LLC v. Att’y Gen., Fla. In a 67-page opinion, the three-judge panel held that large swaths of the law’s provisions were unconstitutional, finding that social media companies are private actors and government … Continue reading
On April 5, 2022, the Canadian Heritage Minister, Pablo Rodriguez, tabled Bill C-18 (Online News Act): An Act respecting online communications platforms that make news content available to persons in Canada. Bill C-18 requires digital media platforms (e.g., social media services, search engines) to compensate media outlets for news content made available on their platforms. … Continue reading
Companies—especially those based outside the U.S.—sometimes ask why it is so difficult to bring a lawsuit based on something posted on social media. A recent federal court case from California can help show how courts view these actions. Prehired, LLC, v. Provins, No. 2:22-cv-00384-TLN-AC (E.D. Cal. April 12, 2022) (2022 WL 1093237).… Continue reading
Frogbikes Limited (“Frogbikes”), a British bicycle manufacturer, has filed suit in U.S. District Court for the Northern District of Georgia claiming that defendant Frog Scooters, Inc. (“Frog Scooters”) has infringed Frogbikes’ “FROG” trademarks (the “FROG Marks”) with the use of the term “frog” and its stylized “Frog” mark in connection with its scooter rental business. … Continue reading
In December 2021, our post Federal Reserve and social media, highlighted sections of the Federal Reserve Financial Stability Report which demonstrated the Fed’s focus on the role of social media and retail investors in equity market volatility. In March 2022, the Board of the International Organization of Securities Commissions (IOSCO) followed suit, and also turned … Continue reading
In June of 2021, Canada’s Parliament passed Bill C-10: An Act to amend the Broadcasting Act and to make related and consequential amendments to other Acts (Bill C-10). Bill C-10 was drafted in response to recommendations made by the Broadcasting and Telecommunications Legislative Review Panel suggesting reforms of Canada’s broadcasting system to account for digital … Continue reading
In December 2021, our post Increased Likelihood of US Social Media Regulation discussed the rising momentum to reform Section 230 of the 1996 Communications Decency Act, which is often used to protect social media giants from liability for content posted on their platforms by third parties. Recently, U.S. Supreme Court Justice Clarence Thomas expressed displeasure … Continue reading
The UK Government has added two new duties to the proposed Online Safety Bill (the Bill) that are aimed at protecting people against anonymous online abuse. These measures would give users of “main social media firms” more control over who can interact with them and the type of content users see (see the Government’s press … Continue reading