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LVMH Media Unit Drops Lawsuit Against Musk-Owned X

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LVMH-owned newspaper group Les Echos-Le Parisien has opted not to proceed with a lawsuit against Elon Musk’s platform X, sources revealed on Tuesday. Initially, the group had joined French media in a legal effort to secure compensation for content that was used on the platform without payment. However, according to court officials and four media industry sources, Les Echos-Le Parisien will no longer participate in the case.

The lawsuit, originally announced in November, aimed to pressure X to pay for content from French publications displayed on the platform. Under EU copyright rules, digital platforms are required to compensate news publishers for using their content to generate traffic and revenue. The move had set the stage for a legal battle between LVMH, its CEO Bernard Arnault, and Musk, the world’s richest man.

In recent developments, sources confirmed that Les Echos-Le Parisien informed other media groups that it would not pursue the lawsuit, although no official reason for the change in decision has been provided. A spokesperson for Les Echos-Le Parisien confirmed that previous discussions had taken place, but declined to offer further details.

The French media groups involved, including Le Monde and Le Figaro, proceeded with their legal actions against X. These groups had secured a fast-track court order in May 2024, compelling X to release traffic data and advertising revenue figures to help determine fair compensation for their content. However, Les Echos-Le Parisien was not part of this court filing.

Les Echos is recognized as France’s leading business newspaper, while Le Parisien is a popular general news outlet. In November, CEO Pierre Louette emphasized that X, like any platform benefiting from their content, must adhere to EU copyright laws, stating it was crucial to protect quality information, which is fundamental to democracy.

While Les Echos-Le Parisien has withdrawn from the X lawsuit, it continues to pursue similar actions. Last month, the group joined other newspapers in filing a lawsuit against LinkedIn, Microsoft’s professional networking platform, with no court date yet set.

Coinbase Must Face Customer Lawsuit in New York Court

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Coinbase must defend itself in a lawsuit filed by customers who claim that the company illegally sold securities without registering as a broker-dealer, a federal judge ruled on Friday. U.S. District Judge Paul Engelmayer in Manhattan dismissed Coinbase’s argument that it was not a “statutory seller” under federal securities laws because it did not transfer title to the 79 tokens customers traded.

Judge Engelmayer referenced the accusation that Coinbase facilitates transactions solely between itself and the customers, which led to the conclusion that the exchange was acting as a seller. He also rejected the dismissal of claims under the laws of California, Florida, and New Jersey, agreeing that customers adequately argued that Coinbase was a direct seller of the tokens.

Coinbase has consistently stated it does not list, offer, or sell securities on its platform. The company expressed its intent to defend itself against the remaining claims in court. Customer lawyers did not immediately comment on the ruling.

This ruling comes after the 2nd U.S. Circuit Court of Appeals revived parts of the lawsuit in April 2023, which had initially been dismissed by Engelmayer in February of the same year. Customers are seeking unspecified damages.

In addition to the private lawsuit, the U.S. Securities and Exchange Commission (SEC) is also suing Coinbase, alleging the exchange allowed the trading of tokens that should have been registered as securities. Last month, a separate federal judge temporarily paused the SEC’s case to allow Coinbase to seek clarification from the 2nd Circuit on whether digital token trades fall under the definition of investment contracts.

German Activists Sue X Over Lack of Election Influence Data

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Two activist groups have filed a lawsuit against Elon Musk’s social media platform X, accusing it of violating European law by refusing to provide necessary data to track disinformation ahead of Germany’s national election on February 23. The Society for Civil Rights (GFF) and Democracy Reporting International (DRI) claim that X is not offering systematic access to important information, such as the reach of posts, likes, and shares, which other platforms have made available for monitoring.

According to Michael Meyer-Resende of DRI, the groups have the right to access this data under the European Union’s Digital Services Act. Despite requests, X has not granted access to the data needed for tracking public debates on the platform.

The lawsuit comes amid heightened concerns over online disinformation ahead of elections in Europe, especially after the controversial presidential election in Romania in 2024, which was allegedly influenced by a Russian-driven social media campaign, though Moscow denied any involvement.

The situation is further complicated by Musk’s endorsement of Germany’s far-right political party, Alternative for Germany (AfD), and his continued influence over the platform. Since taking control of Twitter (now X), Musk has limited access to data for researchers, charging for what was previously free, raising concerns about transparency and potential misuse of the platform in democratic processes.