Andrew Baer was quoted in an article published in Bloomberg Law discussing Microsoft’s potential acquisition of Bytedance’s TikTok, and the company’s ability to resolve the attendant privacy and security concerns in advance of Donald Trump’s September 15, 2020, deadline to reach a deal. The looming deadline leaves little time for Microsoft to conduct privacy, cybersecurity, and national security reviews, possibly leaving Microsoft exposed to regulatory investigations, litigation, and congressional probes. Even if Microsoft clears this hurdle and purchases TikTok, the company may be at risk of being the target of class action suits amidst growing privacy and security concerns among users.
The article notes that class plaintiffs are likely to sue both the buyer and seller for privacy violations. Andy notes that depending on the terms of the deal, “the acquirer may end up bearing liability for fines and damages.”
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