Friday, April 30, 2021
Plaintiffs range from users, customers, app developers, investors, competitors, employees (current and former), law enforcement and tax agencies. They are seeking redress for alleged harm across a gamut of the companies’ business practices, creating financial risks for many firms and existential risks for a few.
- Losing privately brought lawsuits will disadvantage tech companies’ efforts to rebuff enhanced regulatory oversight.
- Some tech companies will initiate litigation to contest laws and regulations they consider a restraint on their businesses.
- As app platforms penetrate regulated industries such as finance and healthcare, liability risks will rise.