Product liability laws generally only apply to products. The recent explosion in AI technology has forced courts to grapple with a new and fascinating question: are AI applications like chatbots “products” for purposes of product liability law?

Last month, the Texas Senate passed Senate Bill 30, joining a growing group of state legislatures seeking to limit plaintiffs’ tort recovery. According to the bill’s proponents, the legislation is intended to limit so-called “nuclear verdicts,” generally understood to refer to verdicts in excess of $10 million.

On May 19 and 20, senior leadership and other representatives from the Securities and Exchange Commission (SEC) presented at Practising Law Institute’s The SEC Speaks conference. SEC leadership delivered comprehensive remarks articulating a clear shift in the SEC’s regulatory philosophy and priorities and outlining the agency’s evolving approach to regulation and enforcement. We previously covered updates related to the Division of Enforcement here.