Lookzy: all your daily legal news in 0.1 billable hours. Litigation, deals, lateral moves and industry news; we cover it all.

Welcome to Lookzy. In today's Lookzy:

• Can AI images be copyrighted?

• Are NFTs securities?

• Bill Gates buys $902 million worth of beer (company)

• $2.9 billion Bundesliga media sale

Let's dive right in ⬇️

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ECON SNAPSHOT

The difference between special bonuses and layoffs

THE VERDICT

Arguing today's litigation news

NBA Top Shot. New York federal judge Victor Marrero rejected NFT marketplace creator Dapper Labs' motion to dismiss a proposed class action brought by purchasers of an NFT series called NBA Top Shot Moments. The NFTs allowed purchasers to own digital video clips of NBA game highlights, which are hosted on Dapper Labs' private blockchain called Flow, which uses the FLOW token. The Judge's ruling does not necessarily mean that these NFTs are securities, but rather means that Dapper Labs will need to litigate the issue at trial.

AI copyrights. The US Copyright Office noted in a letter to "Zarya of the Dawn" author Kris Kashtanova that Kashtanova is entitled to a copyright for those parts of the book that Kashtanova wrote and arranged, but that images for the book produced by Midjourney, no copyright protection should have been granted.

83 law firms. A group of 83 law firms led by Morrison & Foerster, Cravath, Debevoise, Kirkland and Latham filed an amicus brief supporting Covington & Burling in its bid to protect the identities of nearly 300 of its clients affected in a cyberattack from being disclosed to the SEC.

Meta loss. A Texas federal judge ruled against Meta's argument that a jury was tainted by incendiary comments about Meta's "censorship" made by Quinn Emanuel lawyers representing an app developer litigating against Meta, leading to Meta's $175 million loss at trial.

THE DEAL

Wheelin' and dealin' today's corporate news

Exchange growth. Exchange operator Euronext, which operates the Paris and Amsterdam stock exchanges, submitted a preliminary offer to acquire distribution firm Allfunds for $5.85 billion. Euronext is reportedly discussing the deal with Allfunds' largest shareholders and the Allfunds board is considering the offer.

Bundesliga. Germany's soccer governing body, the Deutsche Fussball Liga, plans to formally launch a sale process in early March for "at least" 15% of the media rights business for the Bundesliga. At its current valuation, a 15% stake would worth approximately $2.9 billion.

Beer run. Bill Gates acquired a $902 million minority stake in Heineken Holding NV, the controlling shareholder of Heineken NV, the world's second-largest brewer, providing Gates with approximately 3.8% of the company.

Credit Suisse. Apollo Global Management is reportedly considering investing $750 million into the leveraged-finance business of CS First Boston, Credit Suisse's investment-banking spin-off. The investment would make Apollo one of CS First Boston's largest backers.

BUSINESS OF THE FIRM

Lateral Moves:

• Sidley Austin hired partner Germaine Nicole Gurr from White & Case. Previously, Gurr served as deputy general counsel at Schneider Electric.

• Vinson & Elkins hired eight energy regulatory litigators from Gibson Dunn.

BOILERPLATE

Alright, back to billing. That's all, folks!