United States: Corporate and Company Law

When an AI system is trained on material nonpublic information, MNPI, and then used to inform or execute trades, the firm deploying that system may face insider trading liability, even if no human trader ever directly reviewed the underlying data. The SEC has not yet brought a case on this precise theory, but recent enforcement actions, particularly its 2023 settlement with Virtu Financial, establish the compliance framework most likely to govern AI-driven trading. The legal risk is no longer hypothetical.

The Supreme Court's decision in Montgomery v. Caribe Transport II, LLC has created new legal obligations for companies that arrange truck transportation.

You have found a business you want to buy. The seller has an existing SBA loan with a solid interest rate, and the idea of simply stepping into their shoes — taking over the loan along with the business — sounds...