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Let's talk antitrust: Discussing recent cases and emerging competition issues
Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
United States | Publication | January 2024
This column focuses on the first ground for seeking reformation, mutual mistake and addresses recent Commercial Division decisions that have struggled with that issue. A mutual mistake exists where the contractual language does not reflect the parties’ meeting of the minds in some material respect. To prevail on a reformation claim based on mutual mistake, the party advancing the claim must prove a mutual mistake by both parties that resulted in either (1) an omission of an agreed upon provision or (2) the addition of a provision not agreed upon. Slutzky v. Gallati, 97 A.D.2d 561, 561 (3d Dep’t 1983).
In this update, Thomas J. Hall and Judith A. Archer discuss the first ground for seeking reformation, mutual mistake and addresses recent Commercial Division decisions that have struggled with that issue.
Read the full New York Law Journal article, "Commercial division update: Reformation of contract based on mutual mistake."
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Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
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After a lacklustre finish to 2022 when compared to the vintage year for M&A that was 2021, dealmakers expected 2023 to see the market continue to cool in most sectors, in response to the economic headwinds of rising inflation (with its corresponding impact on financing costs), declining market valuations, tightening regulatory scrutiny and increasing geopolitical tensions.
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On 18 September 2023, the CMA published its Initial Report (Initial Report) on AI Foundation Models (FM), supplemented in April 2024 with the publication of its “Update Paper” focused on potential antitrust risks associated with FMs and a “Technical Update Report” providing more detail on the development on FMs (collectively the “Reports”). Below, we consider these CMA publications.
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