Latest news with #lawsuits
Yahoo
2 days ago
- Business
- Yahoo
Pfizer Inc. (PFE) Ends Acepodia Partnership Amid Depo-Provera Legal Woes
Pfizer Inc. (NYSE:PFE) is navigating a period of strategic upheaval and legal scrutiny as it ends its clinical collaboration with Acepodia and faces mounting lawsuits over its contraceptive, Depo-Provera. The decision to mutually terminate the partnership with Acepodia, which focused on autoimmune disease drug development, is attributed to PFE's global resource prioritization and not to Acepodia's capabilities. The wind-down is expected to have no impact on Acepodia's clinical programs, with both companies leaving open the possibility of future collaboration. Pixabay/Public Domain Simultaneously, Pfizer Inc. (NYSE:PFE) is embroiled in multidistrict litigation involving approximately 400 lawsuits alleging the company failed to adequately warn about the risk of brain tumors linked to long-term Depo-Provera use. Recent studies have intensified scrutiny, and hearings are scheduled as the company faces accusations of prioritizing profits over patient safety. Despite these challenges, Pfizer Inc. (NYSE:PFE)'s performance has remained stable, mirroring broader market trends. However, investor sentiment is cautious: the company's total shareholder return fell 11.11% over the past year, underperforming the US pharmaceuticals sector's 10.5% decline. Analysts note that the current share price reflects these uncertainties, with only a marginal upside projected, underscoring the importance of future earnings and revenue growth for PFE's outlook. While we acknowledge the potential of PFE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PFE and that has 100x upside potential, check out our report about this READ NEXT: and Disclosure: None.
Washington Post
3 days ago
- Business
- Washington Post
Trump and Musk try to smooth over a threatened rift
After gutting federal agencies, stirring up a flurry of lawsuits and falling far short of his cost-saving goals, Elon Musk returned to the White House on Friday to say goodbye in person, a ceremonial ending to the 130 days that the world's richest man spent as a special government employee.
E&E News
3 days ago
- Business
- E&E News
Top lawyer in climate litigation elected to Harvard board
An attorney who has represented Exxon Mobil in its fight against lawsuits that seek to hold the oil and gas industry liable for climate change has been selected as a member of the powerful body that oversees Harvard University. Kannon Shanmugam, who leads the Supreme Court practice at the firm Paul, Weiss, Rifkind, Wharton & Garrison, will join the Harvard Corp. as its newest member on July 1. Shanmugam has represented Exxon in its push to quash the raft of lawsuits for nearly a decade, arguing before the Colorado Supreme Court in February that a lawsuit filed by the city of Boulder should be rejected. Advertisement Shanmugam's election to the Harvard board comes as the school is under attack by the Trump administration, which has moved to cancel the school's federal funding and prevent it from enrolling foreign students.
Yahoo
3 days ago
- Business
- Yahoo
What's behind the surge in AI-related lawsuits?
Artificial intelligence is reshaping how businesses operate, from small startups to multinational corporations. But as companies race to harness its power, lawsuits linked to AI use are surging, catching businesses off-guard and leaving legal systems scrambling to catch up. To unpack the risks, Yahoo Finance UK sat down with Testudo CEO George Lewin-Smith to explore the real-world legal consequences of AI deployment, and what businesses can do to protect themselves. "It's really interesting that for the first time, we have now seen lawsuits where companies are actually taking advantage of another company's AI system to extract information and data and even copy that system themselves," Lewin-Smith said. This trend, he explained, goes beyond mere copyright concerns. 'Copyright and IP infringement is not just the only story here. The type of litigation we see is much broader as well. Read more: Crypto live prices 'There's discrimination and bias, there's performance related issues, contractual issues and regulatory enforcements as well. So copyright and IP infringement is key in the headline, but the story is much broader than that as well.' As AI tools become more accessible, small businesses are increasingly turning to generative models for everything from marketing visuals to legal templates. But this convenience comes with hidden danger. When asked if these businesses might be unwittingly putting themselves at risk of AI-related copyright infringement, Lewin-Smith said: 'It's very interesting that for the first time, companies deploying and using AI systems might unintentionally be exposed to IP and copyright risks, based on just the inherent nature of how that technology is built and how the base models have created. Those models means that the risk is new to them.' While some developers have introduced limited contractual indemnities, Lewin-Smith believes these are insufficient. 'They're actually quite light, and our analysis is, is that that is not enough, and unfortunately, companies could be at risk.' The explosion of generative AI tools since late 2022 has triggered a spike in related litigation. 'From 2023 to 2024 alone, we saw 143% increase in generative AI lawsuits in the US alone,' Lewin-Smith said. 'More broadly, this trend is increasing, and this is because this technology is becoming more widely used, but also because there are inherent risks in using it.' Read more: Quantum computers could expose sensitive data within years, says IBM scientist 'We really encourage the safe adoption of this technology," he said. "We want people to enjoy the productivity gains and the benefits, especially for small companies, but do it in a in a risk managed way.' As lawsuits rise, regulators are under pressure to draw clear boundaries. But even defining what AI is, legally and practically, is proving tricky. 'The definition is a difficult place to start,' said Lewin-Smith. 'And we know the regulators and institutions around the world are grappling with what the hell is AI and how do we define it legally that doesn't incorporate your standard Excel model as an artificial intelligence, but does very focus the definition on the generative side of things.' Read more: How will AI change the world of scamming? | The Crypto Mile He emphasised the disconnect between theory and reality. 'Regulators are scrambling with this. Lawyers are trying to understand it, and we're really focused as well in understanding AI risk in the real world, so focusing on litigation risks and not just theorising about potential speculative risk.' With the legal landscape shifting beneath their feet, what should businesses, large or small, do to shield themselves from the growing risk of AI-related litigation? 'The first step, obviously, is speak to your lawyers, but legal advice is only part of the puzzle. We believe there's a new category of insurance that enterprises should and can buy now, specifically for these AI risks, and that's what we're looking to bring to the market, in addition to all the traditional risk management pillars as well," Lewin-Smith said. He thinks that this kind of AI-specific insurance will soon become essential. 'We believe that AI insurance is a critical tool in the arsenal for internal teams, whether you're a small company, a medium or a large company, to cover yourself from these litigation risks. And we're excited to bring that to the mark to the market.' Read more: UK's 'tax on employment' is hurting business, says Centrus CEO 6 crypto developments in 2025 that will keep fuelling bitcoin's rally What Trump's planned banking deregulation means for investorsError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
What's behind the surge in AI-related lawsuits?
Artificial intelligence is reshaping how businesses operate, from small startups to multinational corporations. But as companies race to harness its power, lawsuits linked to AI use are surging, catching businesses off-guard and leaving legal systems scrambling to catch up. To unpack the risks, Yahoo Finance UK sat down with Testudo CEO George Lewin-Smith to explore the real-world legal consequences of AI deployment, and what businesses can do to protect themselves. "It's really interesting that for the first time, we have now seen lawsuits where companies are actually taking advantage of another company's AI system to extract information and data and even copy that system themselves," Lewin-Smith said. This trend, he explained, goes beyond mere copyright concerns. 'Copyright and IP infringement is not just the only story here. The type of litigation we see is much broader as well. Read more: Crypto live prices 'There's discrimination and bias, there's performance related issues, contractual issues and regulatory enforcements as well. So copyright and IP infringement is key in the headline, but the story is much broader than that as well.' As AI tools become more accessible, small businesses are increasingly turning to generative models for everything from marketing visuals to legal templates. But this convenience comes with hidden danger. When asked if these businesses might be unwittingly putting themselves at risk of AI-related copyright infringement, Lewin-Smith said: 'It's very interesting that for the first time, companies deploying and using AI systems might unintentionally be exposed to IP and copyright risks, based on just the inherent nature of how that technology is built and how the base models have created. Those models means that the risk is new to them.' While some developers have introduced limited contractual indemnities, Lewin-Smith believes these are insufficient. 'They're actually quite light, and our analysis is, is that that is not enough, and unfortunately, companies could be at risk.' The explosion of generative AI tools since late 2022 has triggered a spike in related litigation. 'From 2023 to 2024 alone, we saw 143% increase in generative AI lawsuits in the US alone,' Lewin-Smith said. 'More broadly, this trend is increasing, and this is because this technology is becoming more widely used, but also because there are inherent risks in using it.' Read more: Quantum computers could expose sensitive data within years, says IBM scientist 'We really encourage the safe adoption of this technology," he said. "We want people to enjoy the productivity gains and the benefits, especially for small companies, but do it in a in a risk managed way.' As lawsuits rise, regulators are under pressure to draw clear boundaries. But even defining what AI is, legally and practically, is proving tricky. 'The definition is a difficult place to start,' said Lewin-Smith. 'And we know the regulators and institutions around the world are grappling with what the hell is AI and how do we define it legally that doesn't incorporate your standard Excel model as an artificial intelligence, but does very focus the definition on the generative side of things.' Read more: How will AI change the world of scamming? | The Crypto Mile He emphasised the disconnect between theory and reality. 'Regulators are scrambling with this. Lawyers are trying to understand it, and we're really focused as well in understanding AI risk in the real world, so focusing on litigation risks and not just theorising about potential speculative risk.' With the legal landscape shifting beneath their feet, what should businesses, large or small, do to shield themselves from the growing risk of AI-related litigation? 'The first step, obviously, is speak to your lawyers, but legal advice is only part of the puzzle. We believe there's a new category of insurance that enterprises should and can buy now, specifically for these AI risks, and that's what we're looking to bring to the market, in addition to all the traditional risk management pillars as well," Lewin-Smith said. He thinks that this kind of AI-specific insurance will soon become essential. 'We believe that AI insurance is a critical tool in the arsenal for internal teams, whether you're a small company, a medium or a large company, to cover yourself from these litigation risks. And we're excited to bring that to the mark to the market.' Read more: UK's 'tax on employment' is hurting business, says Centrus CEO 6 crypto developments in 2025 that will keep fuelling bitcoin's rally What Trump's planned banking deregulation means for investorsError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
