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Lawsuits raise cost and existential risks for US tech

Friday, April 30, 2021

Significance

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.

Impacts

  • 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.
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