Technology | McGlinchey Stafford PLLC

A team that serves clients in mature and emerging industries

As a firm deeply embedded in the financial services industry – we have a nationwide ranking from Chambers USA in Financial Services Regulation: Consumer Finance (Compliance) – we have had to address issues large and small related to technology, cybersecurity, and data privacy for our financial services clients. Moreover, as a vendor serving these clients, we have firsthand experience with the real-world business and legal issues facing organizations of all types – namely, the need to manage security risks related to technology and to meet the expectations of both regulators and customers in the arena of data privacy.

We also have extensive experience working with companies in mature industries – for example, petrochemicals and energy – where their businesses intersect with technology. We help them address the regulatory compliance and operational issues they face related to technology, cybersecurity, and data privacy. Our Technology team lawyers are leaders in educating clients about the legal implications of developments in FinTech, blockchain, artificial intelligence, drone, and other technologies.

We have particular strength advising clients in the areas of:

Cloud services contracts
Cyber insurance
Cybersecurity litigation
Data security – regulatory compliance
Data security – breach and incident response
Data privacy – regulatory compliance
Electronic contracting
FinTech
Hardware and software agreements
IT outsourcing
Privacy litigation and regulatory enforcement
Service-level agreements
Technology licensing agreements

In addition to advising our clients on regulatory compliance, contracts, and litigation, we work to anticipate the long-range needs of their businesses – providing counsel on risk management, indemnification, and other measures to minimize the threat of future liability.

Contact your McGlinchey Technology team for our latest insights about the following:

Increasing scrutiny and regulations at the state level. Artificial intelligence (AI) and data analytics are becoming more commonplace in a wide variety of industries, and the sheer volume of consumer and employee data being collected has regulators at the state level ramping up oversight and regulation of data processors and data brokers. We anticipate that this will lead to more regulation and enforcement at the federal, administrative and international levels – and the need for vigilant attention to compliance.

“Responsible Use.” With new scrutiny by regulators and the plaintiffs’ bar, increasingly companies must be able to prove that they are using consumer data responsibly from the minute they access it to the minute they no longer have it or need it. With an increasingly significant risk of class actions related to alleged irresponsible use of data, companies’ vendor, indemnity, insurance, and other agreements must all be reviewed in light of what they are doing with consumers’ data.

Representation of Technology Company in Putative Nationwide Class Action Involving Lanham Act Claims
Investigated claims of executive mismanagement and fraud on behalf of audit committee of a publicly traded technology company.
Interviewed more than 20 witnesses, reported to audit committee chair, and assisted with referral of matter to SEC and DOJ, meeting with both agencies on behalf of the company. Several executives, who were terminated based upon the findings of the investigation, were convicted or pled guilty to federal crimes and served significant jail time.
McGlinchey team successfully defends ex-Overstock CEO in securities class action
McGlinchey attorneys Bob Driscoll and Alfred Carry (Washington, DC) obtained another dismissal in favor of client Patrick Byrne, founder and former CEO of Overstock in a putative class action alleging securities fraud, market manipulation, and other secondary claims.
Deep Knowledge of Both Technology and Financial Services Prevented a Meltdown of a Client’s Internet Banking Operations
Where we started: Our client, a national financial institution, was accused by a vendor, a market-leading online banking platform, of violating the terms of a software licensing agreement. Even as our client sought to transition to a different provider, the ensuing lawsuit in federal court threatened to put the client’s internet banking operations in jeopardy.More
Represented FinTech company in $100 million commercial loan transaction
McGlinchey Stafford represented a financial technology company based in Colorado in the structure and negotiation of a loan purchase agreement, requested opinions to certain opinion parties and the closing of the transaction on an expedited schedule to coincide with the closing of an additional capital raise.
Represented FinTech company in conversion transaction
McGlinchey Stafford represented a FinTech company and its wholly-owned subsidiary in the final closing of the conversion of notes for a capital investment transaction. McGlinchey Stafford served as exclusive legal counsel with respect to the conversion transaction, including lender regulatory compliance and transaction guidance, including finalizing change-of-control, analysis, and notices which were a gatekeeping itemMore

SVB and Signature Bank Crashes: Regulations to Come?
The recent collapse of two large regional banks, and the expedited sale of Credit Suisse due to similar challenges, have left many in the financial services industry uncertain about the future. What should we understand about what happened and what it might mean for the future of finance?
NLRB Rules Non-Disparagement, Confidentiality Provisions Violate Labor Act
In a ruling that could have far-reaching implications, the National Labor Relations Board (NLRB) has determined that non-disparagement and confidentiality provisions in releases related to severance agreements or settlements violate the National Labor Relations Act (NLRA) if they require workers to waive rights such as their ability to discuss the financial terms of their separation, or even how they were treated by the company.
GLBA or FCRA? Data Sharing Between Affiliates and Non-Affiliates
When an entity shares data outside of its organization, the following questions often arise: Does the FCRA or GLBA (or both) apply to the specific type of data sharing? And how do these laws impact my company’s financial privacy notice? The answer to these questions comes down to the relationship between the Gramm-Leach-Bliley Act (GLBA,More
Webinar: Deep Dive into Privacy and Bank Partner Programs
The next installment in McGlinchey’s Deep Dive Series covering all things privacy is a webinar featuring attorneys from McGlinchey’s Financial Institutions Compliance team.
Health and Equity in the Workspace
Members Mag Bickford and Camille Bryant (New Orleans) will present at the Junior League of Baton Rouge's Fourth Annual Women's Leadership Conference on March 1, 2023, on "Health and Equity in the Workspace".