Businesses
Here's a look at documents from U.S. and international businesses
Featured Stories
Paren Knadjian Named to LA500 List for 2026
NEW YORK, May 12 -- EisnerAmper, a provider of audit, accounting and tax, advisory and outsourcing services, issued the following news:
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Paren Knadjian Named to LA500 List for 2026
Global business advisory firm EisnerAmper is pleased to announce that partner Paren Knadjian has been named to the Los Angeles Business Journal's (LABJ's) LA500 List for 2026. This is the second consecutive year Paren has made this prestigious list.
LA500 celebrates the most influential leaders and impactful executives in Los Angeles who've demonstrated innovation and agility in the face of unprecedented challenges
... Show Full Article
NEW YORK, May 12 -- EisnerAmper, a provider of audit, accounting and tax, advisory and outsourcing services, issued the following news:
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Paren Knadjian Named to LA500 List for 2026
Global business advisory firm EisnerAmper is pleased to announce that partner Paren Knadjian has been named to the Los Angeles Business Journal's (LABJ's) LA500 List for 2026. This is the second consecutive year Paren has made this prestigious list.
LA500 celebrates the most influential leaders and impactful executives in Los Angeles who've demonstrated innovation and agility in the face of unprecedented challengesover the past year.
Paren is the partner-in-charge of EisnerAmper's Los Angeles offices and a member of its Transaction Advisory Services practice. He has 25-plus years of experience in M&As as well as equity and debt financing. He works on both the buy- and sell-side, providing clients with practical advice on deal complexities. He advises clients and colleagues on trends in technology and media, focusing on areas such as artificial intelligence and machine learning.
Paren is a member of the Association for Corporate Growth and the former treasurer of the Crossroads School for Arts & Sciences in Santa Monica. He is also an advisor to the Hillview Mental Health Clinic, a nonprofit community clinic providing comprehensive mental health services in the East San Fernando Valley.
"It's a great honor to be part of this distinguished group of business leaders," said Paren. "Every day, we try and work toward making Los Angeles an exceptional hub for businesses of all kinds. Thanks to the LABJ for this accolade, and congratulations to all of this year's honorees."
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Original text here: https://www.eisneramper.com/about-us/news/la500-list-0526/
[Category: BizAccounting]
McDonald Hopkins Issues Commentary: Quick Take - Comprehensive Federal Privacy Bills Aim to Supersede State Privacy Laws
CLEVELAND, Ohio, May 12 -- McDonald Hopkins, a law firm, issued the following commentary on May 11, 2026, by associate Deana Alegi and member Blair Dawson:
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Quick take: New comprehensive federal privacy bills aim to supersede state privacy laws
On April 22, the U.S. House of Representatives Financial Services Committee and the Energy and Commerce Committee introduced two privacy bills that would preempt related state laws and present a major attempt to establish comprehensive consumer privacy rules in the United States. These include the Guidelines for Use, Access, and Responsible Disclosure
... Show Full Article
CLEVELAND, Ohio, May 12 -- McDonald Hopkins, a law firm, issued the following commentary on May 11, 2026, by associate Deana Alegi and member Blair Dawson:
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Quick take: New comprehensive federal privacy bills aim to supersede state privacy laws
On April 22, the U.S. House of Representatives Financial Services Committee and the Energy and Commerce Committee introduced two privacy bills that would preempt related state laws and present a major attempt to establish comprehensive consumer privacy rules in the United States. These include the Guidelines for Use, Access, and Responsible Disclosureof Financial Data Act (the GUARD Financial Data Act), and the Securing and Establishing Consumer Uniform Rights and Enforcement over Data Act (the Secure Data Act).
The GUARD Financial Data Act
The GUARD Financial Data Act aims to enhance Title V of the Gramm Leach Bliley Act (GLBA) by updating the obligations for how financial institutions treat their consumer financial data.
Key provisions:
* Data minimization: The Act would introduce a statutory data minimization requirement that would require financial institutions to limit the collection and disclosure of nonpublic personal information (NPI) to what is "adequate, relevant, and reasonably necessary" for each stated purpose for which the NPI is collected or disclosed, subject to existing exceptions under GLBA.
* Continuing consumer opt-out rights: The Act would codify the right for consumers to exercise their right to opt out of disclosures of NPI to nonaffiliates at any time by amending Sec. 502(b)(1) of the Gramm-Leach-Bliley Act.
* Data access and deletion rights: The Act would allow a former or current customer of a financial institution to request access to their NPI, and to receive a list of the categories of nonaffiliated third parties to whom NPI has been disclosed. Further, the Act would allow a former customer to request the deletion of NPI at an institution with whom they no longer have a relationship.
* Additional information to be included in consumer privacy notices: The Act would require that financial institutions provide increasingly detailed notices to consumers before disclosing a consumer's NPI to a nonaffiliated third party. The additional information will include:
-The purpose for the collection and disclosure of NPI, retention practices;
-The financial institution's use of AI with respect to NPI;
-Whether NPI is processed or retained in or disclosed to China, Iran, North Korea, or Russia;
-An explanation of how consumers can exercise their continuing opt-out rights;
-An explanation of how consumers can access copies of the financial institution's privacy disclosures; and
-An explanation of how a consumer can request the disclosure or deletion of their NPI.
* Preemption of state law: The bill's amendment to GLBA Title V would supersede and preempt state laws that establish consumer data privacy or security requirements for NPI or for financial institutions subject to GLBA.
The Secure Data Act
The Secure Data Act aims to establish a national privacy framework that would preempt related state laws. The bill includes consumer rights such as the right to know, access, correct, and delete personal data; the right to obtain a portable copy of personal data; and the right to opt out of data processing activities, such as targeted advertising and data sales.
The Act would apply to entities that conduct business in the United States, offer products or services to U.S. residents, or process or sell personal data of U.S. residents and meet certain thresholds of data processing volumes. However, the Act would include exemptions for financial institutions subject to title V of the Gramm Leach Bliley Act, HIPAA-covered entities and business associates and, certain nonprofit organizations, and institutions of higher education.
Key Provisions
* Data minimization: The Act seeks to impose data minimization requirements similar to those of state laws that limit data collection to what is adequate, relevant, and reasonably necessary to the disclosed purpose.
* Data access and deletion rights: The Act would provide consumers with the right to access a copy of their personal data, unless the access would require the controller to reveal a trade secret. Similarly, the Act would provide consumers with the right to delete such data provided by or obtained about the consumer.
* Teen data: The Act would establish a parental consent standard for personal data collected from teenagers.
* Consent for processing of sensitive data: The Act seeks to require affirmative consent before processing sensitive data. Sensitive data is defined to include the following:
-Personal data that discloses racial or ethnic origin, religious belief, mental or physical health diagnoses, sexual orientation, or citizen or immigration status;
-Genetic or biometric data that is processed for the purpose of uniquely identifying a specific individual;
-Personal data collected from a child or teen; and
-Precise geolocation data.
* National Data Broker Registry: The Act would establish a national broker registry with the FTC and require data brokers to register and provide disclosures regarding data practices publicly. The bill defines a "data broker" as a controller that collects and processes personal data concerning a consumer who is not:
-A customer or a client of the controller;
-A user, reader, or subscriber of a product or service provided by the controller; and
-The controller derives 50 percent or more of gross revenue from the sale of such personal data.
* Regulatory enforcement powers: The Act would grant enforcement power to the FTC through its power and duties under the FTC Act, and also to state attorneys general. Violations of the Act may be subject to penalties by the FTC. However, the bill does include an opportunity to cure no later than 180 days after the date on which the controller or processor receives a written notice of the violation.
What's next?
These bills are a joint effort by the House Financial Services Committee and the House Energy & Commerce Committee to provide consumers with more control over their personal data and to create a uniform national framework for privacy, which the United States has lacked thus far.
If you have questions about the latest legislative updates, how to keep your organization in compliance, or if you would like to discuss proactive measures to protect against cyber threats, please reach out to a member of our national data privacy and cybersecurity team.
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Deana Alegi, CIPP/US
Associate
dalegi@mcdonaldhopkins.com
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Blair Dawson, MS CyS, FIP, CIPP/US, CIPP/E, CIPM
Member
bdawson@mcdonaldhopkins.com
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Original text here: https://www.mcdonaldhopkins.com/insights/news/new-comprehensive-federal-privacy-bills-aim-to-supersede-state-privacy-laws
[Category: BizLaw/Legal]
Littler Issues Commentary: Mexico Reduces the Workweek
SAN FRANCISCO, California, May 12 -- Littler, a law firm, issued the following commentary on May 11, 2026, by shareholder Monica Schiaffino and associate Valeria Cutipa Hernandez:
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Mexico Reduces the Workweek
On May 1, 2026, an amendment to the Federal Labor Law was published, introducing significant changes to the regulatory framework governing the duration and organization of the work shift in Mexico, following previous constitutional amendments. This amendment redefines the parameters under which work shifts, overtime, and breaks must be organized, and incorporates new obligations for
... Show Full Article
SAN FRANCISCO, California, May 12 -- Littler, a law firm, issued the following commentary on May 11, 2026, by shareholder Monica Schiaffino and associate Valeria Cutipa Hernandez:
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Mexico Reduces the Workweek
On May 1, 2026, an amendment to the Federal Labor Law was published, introducing significant changes to the regulatory framework governing the duration and organization of the work shift in Mexico, following previous constitutional amendments. This amendment redefines the parameters under which work shifts, overtime, and breaks must be organized, and incorporates new obligations foremployers regarding the monitoring and management of working hours.
The amendment establishes a gradual reduction of the maximum weekly workweek to 40 hours; the daytime shift remains at 8 hours per day, the night shift at 7 hours per day, and the mixed shift--which includes periods from both the daytime and night shifts, provided that the night shift is less than 3.5 hours--will remain at 7.5 hours per day.
The amendment increases the overtime cap from 9 to 12 hours per week, which may be distributed up to 4 hours per day and up to 4 days per week, and must be paid at double the regular rate. Any overtime exceeding 12 hours per week must be paid at triple the regular rate. In total, regular and overtime hours combined may not exceed 12 hours per day under any circumstances, and overtime may not exceed 16 hours per week.
One of the changes that will have the greatest impact on companies operating in Mexico is the implementation, effective January 1, 2027, of the requirement to maintain an electronic record, in which at least the start and end times of the workday must be recorded, and which must be made available to the authorities upon request. The Ministry of Labor will issue regulations governing the application of and exceptions to this record-keeping requirement. The amendment does not specify a deadline for issuing these provisions, but it is expected to be before January 1, 2027. The content of the electronic record will constitute conclusive evidence if it is proven that it was agreed upon by the employer and the employees.
Failure to maintain this record may result in a fine imposed by the Ministry of Labor.
Both the reduction in the work shift and the increase in overtime will be implemented gradually as follows:
Year ... Maximum hours per week ... Maximum overtime per week
2026 ... 48 ... 9
2027 ... 46 ... 9
2028 ... 44 ... 10
2029 ... 42 ... 11
2030 ... 40 ... 12
The amendment establishes that the remainder of 2026 should be used as a preparation period for the gradual reduction of the workweek, which will begin in January 2027. In this context, we recommend reviewing employees' weekly work schedules, including overtime, in order to plan for the adjustment in a timely manner and assess the corresponding operational and economic impact. In some cases, such planning may involve hiring additional staff or reorganizing shifts and workloads.
We also recommend updating individual employment agreements and, where appropriate, entering into amendment agreements to reflect the new maximum weekly work hours and to include the use of electronic time tracking (regarding the latter, it will be necessary to wait for the issuance of applicable guidelines).
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Original text here: https://www.littler.com/news-analysis/asap/mexico-reduces-workweek
[Category: BizLaw/Legal]
Hackett Group Establishes AI World Class Benchmarks for the Agentic Enterprise
MIAMI, May 12 -- The Hackett Group, a consulting and executive advisory firm, issued the following news release on May 11, 2026:
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The Hackett Group(R) Establishes AI World Class Benchmarks for the Agentic Enterprise
AI World Class Benchmarks identify 75% additional performance gains across most strategic end-to-end processes
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The Hackett Group, Inc. (NASDAQ: HCKT), an ROI-led AI transformation firm, today announced AI World Class enterprise performance benchmarks - a major expansion of its proprietary Hackett Process and Performance Intelligence IP that establishes the definitive standard
... Show Full Article
MIAMI, May 12 -- The Hackett Group, a consulting and executive advisory firm, issued the following news release on May 11, 2026:
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The Hackett Group(R) Establishes AI World Class Benchmarks for the Agentic Enterprise
AI World Class Benchmarks identify 75% additional performance gains across most strategic end-to-end processes
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The Hackett Group, Inc. (NASDAQ: HCKT), an ROI-led AI transformation firm, today announced AI World Class enterprise performance benchmarks - a major expansion of its proprietary Hackett Process and Performance Intelligence IP that establishes the definitive standardfor measuring, designing and accelerating enterprise transformation initiatives. As AI fundamentally resets the enterprise performance opportunity, organizations must move beyond tactical incremental improvement initiatives toward future-state operating models that accurately deliver transformational business impact.
"Organizations must refocus their investment on critical processes that create strategic competitive advantage and measurable business value," said The Hackett Group(R) Chairman and CEO, Ted A. Fernandez. "AI World Class benchmarks provide the framework and guidance to accurately assess their specific workflows to prioritize high-value opportunities, reduce execution risk and accelerate ROI-led transformation. The new performance gap opportunities are simply too significant to delay and risk being left behind."
Existing AI projections are often broad, not actionable and disconnected from enterprise operating complexity. AI World Class benchmarks provide detailed, actionable guidance across key end-to-end processes. Hackett AI XPLR(TM) further guides their evaluation by identifying AI opportunities and quantifying the impact of AI ROI against validated processes, automation footprints and data sources, to accurately reimagine the business process and design the agentic workflow required. This breakthrough intelligence establishes a new standard for AI performance measurement, giving enterprise leaders accuracy, relevance and strategic clarity to evaluate and operationalize transformation.
The AI World Class benchmarks were developed by extending the existing Digital World Class(R) process-level benchmarks, methodology and curation. The Hackett Group(R) is also able to extend its benchmarks to subprocess and work-step requirements using its proprietary Hackett Solution Language Model (HSLM). AI World Class benchmarks quantify the impact of Gen AI and agentic workflows across 16 critical end-to-end processes, including: cost, full-time equivalent (FTE) requirements, cycle times and error rates. This level of precision enables organizations to build more actionable business cases, prioritize investments more effectively and design process-driven transformation strategies grounded in measurable financial and operational outcomes.
Quantifying the AI World Class performance gap
AI World Class benchmarks reveal that organizations can achieve a 75% performance advantage over Hackett industry peer groups through process-led AI transformation. Companies that delay AI-enabled transformation risk widening structural performance gaps that are expected to become increasingly difficult to overcome.
Grounded in proprietary intelligence
AI World Class benchmarks are powered by Hackett Process and Performance Intelligence - more than 30 years of proprietary benchmarks, process data and transformation expertise - and strengthened by Hackett AI XPLR's ability to validate true "as-is" enterprise workflows, automation maturity and operational dependencies before AI design and deployment. Using the HSLM, this foundation transforms validated enterprise context into more precise, executable and ROI-driven AI performance standards.
"AI is not technology-first - it is process-first, automation-specific design and orchestration," added Fernandez. "Organizations that fail to ground AI transformation in company-specific enterprise processes and existing automation footprints will struggle to capture sustainable and measurable value."
AI World Class benchmarks are available exclusively through The Hackett Group(R).
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About The Hackett Group(R)
The Hackett Group, Inc. (NASDAQ: HCKT) is an ROI-led, AI enterprise transformation firm that helps clients enable AI world-class performance. Its experts and engineers leverage proprietary AI delivery platforms - Hackett AI XPLR(TM), ZBrain(TM), XT(TM), AIXelerator(TM) and AskHackett(TM) - to accelerate and enhance the delivery of the company's solutions and services.
The AI platforms are powered by the company's domain-specific Hackett Solution Language Model informed by Hackett Process and Performance Intelligence - including Digital World Class(R) benchmark metrics, best practice process flows and service delivery model solution frameworks, which accelerate and enhance the delivery of its services. The Hackett Group's proprietary insights are based on benchmarking results from leading global organizations, including 98% of Dow Jones Global Titans, 97% of the Dow Jones Industrials and 90% of the Fortune 100. Visit www.thehackettgroup.com
Trademarks
The Hackett Group(R), quadrant logo, and Digital World Class(R) are the registered marks of The Hackett Group(R).
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Cautionary Statement Regarding "Forward-Looking" Statements
This release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group(R) to effectively market its digital transformation, our ability to transition our capabilities to support generative artificial intelligence (AI)-related consulting services and solutions and other consulting services, our ability to effectively integrate acquisitions into our operations, our ability to manage joint ventures and successfully cooperate with our joint venture partners, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group(R) and its services as well as other risk detailed in The Hackett Group's reports filed with the United States Securities and Exchange Commission. The Hackett Group(R) does not undertake any duty to update this release or any forward-looking statements contained herein.
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Original text here: https://www.thehackettgroup.com/the-hackett-group-establishes-ai-world-class-benchmarks-for-the-agentic-enterprise/
[Category: BizConsulting]
Fisher Phillips Issues Insight: California Secures Record $12.75 Million CCPA Settlement - Your Action Steps to Ensure Privacy Compliance
ATLANTA, Georgia, May 12 -- Fisher Phillips, a law firm, issued the following insight on May 11, 2026:
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California Secures Record $12.75 Million CCPA Settlement: Your Action Steps to Ensure Privacy Compliance
California officials just announced the largest settlement over alleged violations of the California Consumer Privacy Act (CCPA) to date - a $12.75 million payout. Friday's settlement with General Motors, negotiated by California Attorney General Rob Bonta and several key district attorneys with support from the California Privacy Protection Agency (CalPrivacy), is also the first enforcement
... Show Full Article
ATLANTA, Georgia, May 12 -- Fisher Phillips, a law firm, issued the following insight on May 11, 2026:
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California Secures Record $12.75 Million CCPA Settlement: Your Action Steps to Ensure Privacy Compliance
California officials just announced the largest settlement over alleged violations of the California Consumer Privacy Act (CCPA) to date - a $12.75 million payout. Friday's settlement with General Motors, negotiated by California Attorney General Rob Bonta and several key district attorneys with support from the California Privacy Protection Agency (CalPrivacy), is also the first enforcementaction alleging a violation of the CCPA's data minimization requirements. That principle - the idea that you should not collect more data than you need and delete it once the purpose is served - is now an active enforcement priority. The case also targets purpose limitation: once you collect data for a specific reason, you cannot quietly repurpose it later without going back to consumers for consent. If your business collects any kind of consumer or employee data, you should read on to find out what happened, where the regulatory trends are heading, and what you should do to ensure compliance.
What Happened: The Allegations Against GM
The conduct at issue centers on GM's OnStar program, a vehicle connectivity service that provides roadside assistance and navigation. According to the complaint filed as part of the settlement, GM sold the names, contact information, precise geolocation data, and driving behavior data (including speeds, rapid acceleration, and hard braking) of hundreds of thousands of California OnStar subscribers to two data brokers from 2020 to 2024.
The state alleged that GM:
* Sold consumer data without adequate notice or consent, despite telling OnStar subscribers their data would only be used to provide requested services;
* Affirmatively stated in its privacy policy that it did not sell driving or location data; and
* Retained location and driving data long after it was needed for OnStar services and then sold that retained data to brokers, a violation of the CCPA's data minimization requirements.
GM resolved the matter without admitting liability.
The 2 Legal Theories Behind the Settlement
This settlement is built on two distinct legal theories, both of which apply to most businesses.
1. Consent and Disclosure Failures
The CCPA requires businesses to tell consumers what data they collect, how it will be used, and with whom it will be shared - before collecting it. GM's alleged misstep was that it told consumers one thing ("we don't sell your data") and did another (sold it to two data brokers). Moreover, because GM said it did not sell data, it was alleged to have follow-on violations relating to failure to provide notice of selling and the right to opt-out and failure to provide the right to limit the use or disclosure of sensitive personal information (for the alleged disclosure of precise geolocation data). In addition to regulators characterizing this conduct as violating the CCPA, regulators also claimed the allegedly false statements about not selling data violated California's Unfair Competition Law and False Advertising Law.
2. Data Minimization: You Can't Hold Data "Just in Case" or Use Data for Purposes Incompatible with the Original Collection
California's 2023 CCPA amendments require businesses to limit their collection, use, retention, and disclosure of personal information to what is reasonably necessary for the disclosed purpose. In other words, you cannot collect data for one purpose and then quietly repurpose it later.
In GM's case, the driving and location data was collected to operate OnStar: to summon help, provide directions, and similar functions. Retaining that data indefinitely and then selling it to insurance data brokers was, regulators alleged, a clear violation of the purpose limitation and data minimization rules. Moreover, the data brokers were alleged to have used the data to develop a product for auto insurers that rated drivers based on driving behaviors, despite that such usage-based insurance is illegal in California. In other words, GM's sale of data violated data minimization principles because it was unnecessary - the product be developed was never going to be legally usable by insurers.
For businesses, that means that data you lawfully collect for a specific purpose doesn't become freely available for new business uses down the road. Repurposing retained data, even it was legitimately collected in the first place, requires fresh consumer disclosure and, in many cases, affirmative consent.
Key Questions to Ask
This CCPA enforcement action has broad implications beyond the automotive industry and connected devices; it impacts mobile apps, adtech, employee monitoring platforms, AI analytics tools, wellness technologies, IoT (Internet of Things) ecosystems generally, and more. The settlement is an indication that regulators are now comparing engineering and data flows against public privacy disclosures, reviewing vendor relationships in more detail, and testing whether businesses operationalize their privacy promises.
If you collect any personal information under the CCPA's broad definition (names, contact details, location data, browsing behavior, purchase history, and much more), you should ask the following questions in an internal review:
* Does our privacy policy accurately describe what data we collect and how we use and share it?
* Are we sharing or selling consumer data with third parties? If so, have we provided adequate notice and appropriate CCPA rights (such as the right to opt-out of selling and sharing or the right to limit the use or disclosure of sensitive personal information, which data sold is sensitive data under the CCPA)?
* Are we retaining data beyond what is needed for its original collection purpose? If you generally collect all data indefinitely regardless of original collection purpose, chances are your answer to this question is no.
* Do our data-sharing agreements with vendors and third parties align with our disclosed privacy practices?
* Are we using data for purposes not compatible with the context in which it was collected? If so, have we obtained consumer consent for such usage?
* Have we assessed our compliance with the CCPA's 2023 data minimization and purpose limitation amendments?
Action Steps for Employers and Businesses
Given the scope and significance of this settlement, we recommend you take the following steps now:
* Audit your data inventory. Map what personal information you collect, why you collect it, how long you retain it, and who you share it with.
* Review and update your privacy policy. Ensure your consumer-facing disclosures accurately reflect your actual data practices, including any third-party sharing arrangements. Verify that you have accurately and comprehensively described all purposes for which you may use data you collect from or about consumers.
* Assess data retention and use practices. Identify whether your business retains personal information beyond the period needed for its disclosed purpose. If so, either delete that data or obtain fresh consent for any new uses that were not previously disclosed to the consumer at the point of collection or that are inconsistent with the consumer's reasonable expectation of what the data would be used for at the point of collection. Implement and operationalize a compliant data retention policy that includes managing and exerting contractual controls over downstream retention by vendors and business partners.
* Scrutinize third-party data agreements. Review contracts with data brokers, analytics vendors, advertising platforms, and other third parties that receive consumer data. Confirm that those arrangements are consistent with your privacy disclosures and the reasonable expectations of consumers.
* Conduct a privacy risk assessment. Particularly if your business collects location data, behavioral data, or other sensitive categories of information, a formal privacy risk assessment may be appropriate, and in fact may be required under the CCPA for certain high-risk data uses.
Conclusion
If you have questions about how this settlement affects your organization, contact your Fisher Phillips attorney, the authors of this Insight, or any member of our Privacy and Cyber Team or our Consumer Privacy Team. We'll continue to track the latest developments, so make sure that you are subscribed to Fisher Phillips' Insight System to get the most up-to-date information directly to your inbox.
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Related People
Darcey M. Groden, CIPP/US
Partner
858.597.9627
dgroden@fisherphillips.com
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Usama Kahf, CIPP/US
Partner
949.798.2118
ukahf@fisherphillips.com
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Original text here: https://www.fisherphillips.com/en/insights/insights/your-action-steps-to-ensure-privacy-compliance
[Category: BizLaw/Legal]
Bristol Myers Squibb and Hengrui Pharma Announce Strategic Agreements to Advance Innovative Medicines Across Oncology, Hematology, and Immunology
PRINCETON, New Jersey, May 12 -- Bristol Myers Squibb, a biopharmaceutical company, issued the following news release:
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Bristol Myers Squibb and Hengrui Pharma Announce Strategic Agreements to Advance Innovative Medicines Across Oncology, Hematology, and Immunology
Landmark collaboration leverages complementary capabilities to drive speed in early innovation and help advance medicines for patients worldwide
Agreements include 13 programs with the potential to address significant unmet patient needs and support long term growth
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SHANGHAI, China, -- Bristol Myers Squibb (NYSE: BMY, "BMS")
... Show Full Article
PRINCETON, New Jersey, May 12 -- Bristol Myers Squibb, a biopharmaceutical company, issued the following news release:
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Bristol Myers Squibb and Hengrui Pharma Announce Strategic Agreements to Advance Innovative Medicines Across Oncology, Hematology, and Immunology
Landmark collaboration leverages complementary capabilities to drive speed in early innovation and help advance medicines for patients worldwide
Agreements include 13 programs with the potential to address significant unmet patient needs and support long term growth
*
SHANGHAI, China, -- Bristol Myers Squibb (NYSE: BMY, "BMS")and Hengrui Pharma ("Hengrui") (600276.SH; 01276.HK) today announced the companies have entered into global strategic collaboration and license agreements to advance a portfolio of 13 early stage programs in oncology, hematology and immunology, with the goal of accelerating discovery and development of innovative medicines for the benefit of patients worldwide.
The agreements include four oncology/hematology assets from Hengrui, four immunology assets from BMS, and five innovative assets to be jointly discovered and developed by both companies, leveraging Hengrui's discovery engine and platform technologies across several innovative modalities. Hengrui has the option to co-develop select assets and the potential to conduct certain commercialization activities globally with BMS.
Under the collaboration, BMS obtains exclusive worldwide rights to the Hengrui originated assets outside Chinese mainland, Hong Kong SAR, and Macau SAR (the "Hengrui Territory"), while Hengrui obtains exclusive rights to the BMS originated assets within the Hengrui Territory, with BMS retaining rights for the rest of the world. Hengrui will be fully responsible for early clinical development to accelerate clinical proof of concept for these programs.
Aligned with the collaborative innovation strategies of both BMS and Hengrui, these agreements reflect the companies' continued focus on advancing innovative science through partnership in areas of significant unmet medical need. The collaboration brings together BMS's differentiated research and discovery strengths, global clinical development capabilities, regulatory expertise, and commercial scale with Hengrui Pharma's discovery engine, platform technologies, and efficient early-stage development expertise, enabling the advancement of a broad portfolio of high-value programs.
"This strategic collaboration reflects our commitment to advancing innovative science while maintaining a disciplined approach to portfolio management," said Robert Plenge, MD, PhD, Executive Vice President and Chief Research Officer, Bristol Myers Squibb. "By leveraging complementary capabilities across geographies, we aim to accelerate early clinical learning and make informed decisions that support driving top tier growth in the next decade and, ultimately, our mission to deliver medicines that help patients prevail over serious diseases."
"This broad strategic collaboration reflects a highly synergistic collaboration between two global innovators with complementary strengths. By leveraging Hengrui's growing R&D capabilities and proven efficiency in discovering and advancing innovative therapies, we are poised to advance the best of both pipelines," said Frank Jiang, MD, PhD, Executive Vice President and Chief Strategy Officer of Hengrui Pharma. "It also reflects Hengrui's continued commitment to strengthen our global presence. Together, we aim to deliver meaningful benefits to patients worldwide."
Under the terms of the agreement, BMS will pay Hengrui up to $950 million, including a $600 million upfront payment, a $175 million first anniversary payment, and a second contingent anniversary payment of $175 million in 2028. The potential total value of the agreement is up to approximately $15.2 billion, including the exercise of available options for the joint discovery programs and the achievement of applicable development, regulatory, and commercial milestones for all programs. In addition, Hengrui is eligible to receive tiered royalties on net sales of products commercialized outside the Hengrui Territory.
The transaction is subject to review under the Hart Scott Rodino Antitrust Improvements Act and other customary closing conditions. The parties expect that the agreement will close in the third quarter of 2026.
About Bristol Myers Squibb: Transforming Patients' Lives Through Science
At Bristol Myers Squibb, our mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We are pursuing bold science to define what's possible for the future of medicine and the patients we serve. For more information, visit us at BMS.com and follow us on LinkedIn, X, YouTube, Facebook and Instagram.
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Bristol Myers Squibb Cautionary Statement Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products and the strategic collaboration and license agreements with Hengrui Pharma. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our actual future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, that the expected benefits of, and opportunities related to, the agreement may not be realized by Bristol Myers Squibb or may take longer to realize than anticipated, that Bristol Myers Squibb may fail to discover and develop any commercially successful product candidates through the agreement, and that assets or product candidates may not achieve their primary study endpoints or receive regulatory approval for the indications described in this release in the currently anticipated timeline or at all and, if approved, whether such product candidate treatment or combination treatment for such indications described in this release will be commercially successful.
No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb's business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2025, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.
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About Hengrui Pharma: Innovation to Benefit Patients Worldwide
Hengrui Pharma is an innovative, global pharmaceutical company dedicated to the research, development and commercialization of high-quality medicines to address unmet clinical needs. Its therapeutic areas of focus include oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. Driven by a patient-focused philosophy since its founding in 1970, Hengrui Pharma remains committed to advancing human health by striving to conquer diseases, improve health, and extend lives through the power of science and technology. For more information, visit us at Hengrui.com and follow us on LinkedIn.
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Hengrui Pharma Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that reflect Hengrui Pharma's beliefs or expectations about the future or future events as of the respective dates indicated therein ("forward-looking statements"). These forward-looking statements are based on a number of assumptions about Hengrui Pharma's operations, its future development plans, market (financial and otherwise) conditions and growth prospects, and are subject to significant risks, uncertainties and other factors beyond Hengrui Pharma's control, and accordingly, actual results may differ materially from those contemplated by these forward-looking statements. No reliance should be placed on such statements, which reflect the view of the management of Hengrui Pharma as at the date of this press release. Hengrui Pharma does not undertake any obligation to update these forward-looking statements for events/or circumstances that occur subsequent to such dates.
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Original text here: https://news.bms.com/news/details/2026/Bristol-Myers-Squibb-and-Hengrui-Pharma-Announce-Strategic-Agreements-to-Advance-Innovative-Medicines-Across-Oncology-Hematology-and-Immunology-2026-EbQpaI6Zdc/default.aspx
[Category: BizPharmaceutical]
Aeva Adopts Cadence Tensilica Vision DSP to Advance Lidar Performance and Efficiency
SAN JOSE, California, May 12 [Category: BizComputer Technology] -- Cadence Design Systems, a provider of electronic design automation and semiconductor intellectual property, issued the following news release on May 11, 2026:
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Aeva Adopts Cadence Tensilica Vision DSP to Advance Lidar Performance and Efficiency
Cadence (Nasdaq: CDNS) today announced that Aeva, a leader in next-generation sensing and perception systems, has licensed Cadence(R) Tensilica(R) Vision DSP IP to accelerate signal processing in its 4D LiDAR systems--enabling flexible and scalable solutions for industrial robotics
... Show Full Article
SAN JOSE, California, May 12 [Category: BizComputer Technology] -- Cadence Design Systems, a provider of electronic design automation and semiconductor intellectual property, issued the following news release on May 11, 2026:
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Aeva Adopts Cadence Tensilica Vision DSP to Advance Lidar Performance and Efficiency
Cadence (Nasdaq: CDNS) today announced that Aeva, a leader in next-generation sensing and perception systems, has licensed Cadence(R) Tensilica(R) Vision DSP IP to accelerate signal processing in its 4D LiDAR systems--enabling flexible and scalable solutions for industrial roboticsand automotive applications. This design win marks a significant step in delivering high-performance, low-power lidar systems optimized for real-time perception and autonomy.
Lidar technology enables precise 3D mapping and object detection in robotics, autonomous vehicles, industrial automation and other physical AI applications at the edge. Its ability to deliver high-resolution depth information makes it indispensable for safety and navigation. Aeva's 4D LiDAR technology goes a step further by detecting velocity and position simultaneously, empowering autonomous devices to make safer, more intelligent decisions.
Cadence Tensilica Vision DSPs deliver a unique combination of programmability and performance, enabling Aeva to add flexibility, scalability and customizations to the lidar processing pipeline. Their inherent low-power architecture and customizable Tensilica Instruction Extension (TIE) language make Tensilica DSPs ideal for real-time signal processing, where latency and efficiency are critical.
"Cadence's DSP technology provides the flexibility and performance uplift we need to push the boundaries of perception and deliver scalable solutions to our industrial and automotive customers," said James Reuther, chief engineer of Aeva. "By integrating the Tensilica Vision DSP into our next-generation LiDAR systems, Aeva can leverage the powerful combination of Cadence's highly configurable hardware and comprehensive suite of optimized software libraries to accelerate innovation and bring advanced sensing capabilities to market faster."
"Cadence is committed to enabling our customers to build smarter, safer and more connected systems for edge and physical AI applications, and we look forward to collaborating with Aeva to redefine perception with their groundbreaking 4D LiDAR technology," said Amol Borkar, group director of product management and marketing for Tensilica DSPs at Cadence. "Our Tensilica DSPs empower SoC providers to deliver differentiated performance and power efficiency in leading-edge, low-latency applications like lidar."
Aeva is the latest in a growing list of companies leveraging Tensilica Vision DSPs to drive innovation across industrial robotics, autonomy and other physical AI applications. Tensilica Vision DSPs come with industry-leading software libraries optimized for neural networks, computer vision, simultaneous localization and mapping (SLAM), radar and point cloud processing. In addition, Tensilica DSPs are equipped with a third-generation neural network compiler, the NeuroWeave SDK, which enables execution of the latest AI networks proliferating in the lidar segment. With a proven track record in ADAS, radar, audio and vision processing, Tensilica DSPs remain the go-to solution for high-performance, low-power and customizable processor IP.
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About Cadence
Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world's most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For 10 years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.
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Original text here: https://www.cadence.com/en_US/home/company/newsroom/press-releases/pr/2026/aeva-adopts-cadence-tensilica-vision-dsp-to-advance-lidar.html
