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Not to get all too political on HN, but the increasing number of cases like this over the last few years is the most positive thing I've seen happen in the US i
by maeil 2y ago
Not to get all too political on HN, but the increasing number of cases like this over the last few years is the most positive thing I've seen happen in the US in a long time. And one of my biggest worries for the next administration is that they will put an immediate stop to this.
These cases all come down to a very simple thing: "Don't lie if you're a publicly listed company". Which is an enormous boon to society if enforced, like it is indirectly through these lawsuits.
Fake job interviews aren't securities fraud - as long as you don't lie about them. Bad passwords aren't securities fraud - as long as you don't lie about them. It has become entirely second nature for companies to lie about everything; there's a whole industry around it (usually known as "PR"). These lawsuits can disrupt this status quo. Stop saying A and doing B. All these cases are very clear in that the company said A without even doing A at the time. It's not like they were forced into either saying A or doing B. Both Wells Fargo and Solarwinds could very easily just not have made false claims wrt diversity and security. They willingly, knowingly did so.
- SideburnsOfDoom 2y agoA company could have bad passwords without lying about them, just don't comment on passwords at all. But it's hard to see how to have a "Fake job interview" without lying, as the publicly listed job would itself be a lie. Or in the example given, the "diversity" candidates interviewed without any real intent to consider them for the job, were lied to. yes, I see that this is covered better in the article.
- creer 2y agoYes, this does not fight bad passwords, it fights bullshit PR. An excellent thing.
- gizmo686 2y agoPublicly traded companies are still allowed to lie. It only becomes securities fraud if they lie to investors.
- maeil 2y agoLying in public seems like it would include "lying to investors", no? Sure, lying at the water cooler doesn't matter. But the Solarwinds case seems to be about lying on their website.