In several recent decisions, district courts have held that liability under the Defend Trade Secrets Act can extend to extraterritorial defendants. As set forth by Sheppard Mullin’s Tyler Baker in a prior blog post, the extraterritorial reach of the DTSA is rapidly expanding. Non-U.S. Companies and the DTSA: Parameters of a Developing Reality | Trade Secrets Law Blog (citing vPersonalize Inc. v. Magnetize Consultants Ltd., 437 F. Supp. 3d 860, 878 (W.D. Wash. 2020); Micron Tech. Inc. v. United Microelectronics Corp., No. 17-cv-06932-MMC, 2019 WL 1959487 (N.D. Ca. May 2, 2019); Motorola Solutions Inc. v. Hytera Commc’ns Corp., 436 F.Supp.3d 1150, 1165 (N.D. Ill. 2020); ProV In’tl Inc. v. Lucca, No. 8:19-cv-978-T-23AAS, 2019 WL 5578880 (M.D. Fla. Oct. 29, 2019)). As Mr. Baker observed, these rulings create a risk for foreign entities regarding trade secret theft, as federal courts have held that foreign actors may be subject to liability under the DTSA if the act in furtherance of the misappropriation occurred in the United States.
Continue Reading The DTSA as a Tool for Foreign Entities’ Enforcement of Trade Secrets: A New Legal Frontier
Robert Friedman
Robert Friedman is a partner and Practice Group Leader of the Business Trial Practice Group and is based in the firm’s New York office.
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New York DFS Plans to Streamline Supervisory Information Sharing
By Harrison Kang & Robert Friedman on
Posted in Banking, Compliance
The New York State Department of Financial Services (“DFS”) is proposing a new regulation that would allow banks to share confidential supervisory information with their attorneys or an independent auditor without gaining prior approval from the department.
Banks currently need written approval from DFS each time they want to share confidential supervisory information with their advisors. The proposed new regulation would streamline operations by making it easier for banks to share relevant information with their advisors.
Continue Reading New York DFS Plans to Streamline Supervisory Information Sharing