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Competition
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September 18, 2024
SEC's Equity Trading Reforms Allow Half-Penny Stock Pricing
The U.S. Securities and Exchange Commission on Wednesday unanimously agreed to allow exchanges to quote stock prices in half-penny increments, part of a wider overhaul purportedly aimed at improving transparency and lowering trading costs.
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September 18, 2024
WillScot, McGrath RentCorp Nix $3.8B Deal Over FTC Scrutiny
Temporary space solutions provider WillScot Holdings Corp. and business-to-business rental company McGrath RentCorp on Wednesday unveiled that they have agreed to nix their $3.8 billion merger because there was "no commercially reasonable path" to clear the regulatory hurdles the deal has bumped into since it was announced.
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September 18, 2024
GameStop CEO Pays $1M For Failure To Flag Bank Stock Buy
GameStop CEO Ryan Cohen has agreed to pay nearly $1 million to settle U.S. Department of Justice claims that the Canadian entrepreneur violated the Hart-Scott-Rodino Act when he bought more than $20 million worth of Wells Fargo shares in 2018.
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September 18, 2024
9th Circ. Breathes New Life Into Swimmers' Boycott Suit
The Ninth Circuit has revived a class action from the International Swimming League and a trio of competitive swimmers accusing the sport's global governing body of orchestrating a de facto boycott of the upstart league, overruling a district court that threw out the case.
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September 18, 2024
Google Fights To Ax £7B Apple Search Engine Abuse Case
Google asked a tribunal on Wednesday to strike out a £7 billion ($9.25 billion) case alleging it abused its dominance by securing exclusivity for its search engine on Apple devices, arguing that the case against it must fail.
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September 25, 2024
CMA Consumer Protection Chief Joins Lewis Silkin
Lewis Silkin LLP has hired a former director at the Competition and Markets Authority to boost its services for clients being investigated over their compliance with consumer regulations.
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September 18, 2024
Qualcomm Gets Predatory Pricing Fine Trimmed To €239M
A European Union court has pared back the penalty handed to Qualcomm for abusing its dominance by selling 3G baseband chipsets below cost, trimming it on Wednesday from €242 million ($266 million) to €238.7 million after finding that enforcers had not properly applied their own fining guidelines.
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September 18, 2024
Google Gets €1.49B Antitrust Fine Tossed In AdSense Case
A European Union court on Wednesday annulled a €1.49 billion ($1.65 billion) fine against Google for abusing its dominance in markets for brokering online search advertising, saying the bloc's competition enforcer had not adequately weighed how long the contracts had been in place.
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September 17, 2024
FDIC, OCC Cement New Bank-Merger Policy Guidelines
Federal banking regulators on Tuesday approved plans to tighten their oversight of bank mergers, scoping out heightened scrutiny for deals that result in banks with $100 billion in assets among other things.
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September 17, 2024
Benefit Funds Sue Sandoz Over Alleged Fraudulent Transfers
Several health and welfare funds have filed a class action against Sandoz Inc. and affiliates in Pennsylvania federal court, alleging the drugmaker engaged in fraudulent transfers designed to evade liabilities stemming from drug-pricing antitrust litigation.
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September 17, 2024
North Carolina Panel Orders Redo In Hospital Beds Battle
A Tar Heel State administrative court erred when it used the state health department's failure to hold a public hearing as a basis to yank the department's approval of the University of North Carolina's application to enhance its hospital's services, an appeals court ruled Tuesday, in a setback for Duke University's healthcare unit.
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September 17, 2024
DOT Clears $1.9B Alaska-Hawaiian Airlines Combo For Takeoff
Alaska Airlines and Hawaiian Airlines intend to close their $1.9 billion merger within days as the U.S. Department of Transportation greenlit the deal Tuesday after convincing the companies to agree to conditions meant to protect travelers, rural communities and competition in the market.
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September 17, 2024
GC Base Salaries At Big Companies On The Rise
General counsel base salaries at companies making $5 billion or more in revenue has increased from last year, while their total compensation has decreased, according to a report released Tuesday by the Association of Corporate Counsel and Empsight International LLC.
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September 17, 2024
Google Taps In-House Atty For Head Of General Litigation
Google has promoted a longtime in-house attorney to be its head of general litigation, tapping a 13-year veteran of the tech giant who originally studied architectural engineering before going to law school.
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September 17, 2024
Express Scripts Blasts 'Biased' FTC Drug Middlemen Report
The Federal Trade Commission defamed Express Scripts and violated its constitutional rights with an inaccurate report that ripped the role pharmacy benefit managers play as middlemen between drugmakers and insurers, according to a lawsuit lodged Tuesday in Missouri federal court.
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September 17, 2024
Competitiveness Outranks Climate In New EU Commission
European Commission President Ursula von der Leyen shifted her focus from climate change to boosting competitiveness as she proposed her team of commissioners for the next five-year mandate Tuesday, handing out key jobs covering everything from competition enforcement to trade policy.
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September 17, 2024
Iveco Poland, Truck Distributors Fined $62M For Collusion
A Polish antitrust authority has imposed a fine of 238 million Zloty ($62 million) on truck-maker Iveco Poland and 10 distributors of the vehicles for restricting competition for almost a decade by colluding to share the market between them.
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September 16, 2024
Injectable Analgesic Maker Wants Generic Version Blocked
Mallinckrodt Pharmaceuticals has sued a rival drugmaker in Delaware federal court, alleging the company copied its injectable version of acetaminophen and infringed four patents in the process.
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September 16, 2024
Apple Ruling May Embolden EU's Tax Policing, Experts Say
The European Court of Justice's ruling against Apple and Ireland last week runs contrary to its logic in a 2022 state aid ruling, potentially giving the European Commission a reason to think it can decide tax norms across Europe, tax experts said.
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September 16, 2024
Amazon In-House Atty, FTC Vet Joins Weil In DC
The latest addition to Weil Gotshal & Manges LLP's antitrust practice group is a former senior corporate counsel with Amazon with nearly a decade of experience at the U.S. Federal Trade Commission.
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September 16, 2024
Boeing To Pay Embraer $150M To End Failed JV Arbitration
The Boeing Co. will pay Brazilian aircraft manufacturer Embraer SA $150 million to resolve arbitration proceedings related to joint venture agreements the two entered into in 2019 that never materialized, Embraer revealed Monday.
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September 16, 2024
Bayer Beats IP Firm's Bid To Nix European MRI Patent
Bayer AG has seen off a challenge by law firm De Simone & Partners to scrap its patent for a type of contrast agent used to improve the quality of MRI scans after European patent officials confirmed that it contained a new compound.
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September 16, 2024
French EU Commissioner Quits In Dispute With Von Der Leyen
France's candidate to serve as European Union commissioner for the next five-year mandate resigned abruptly Monday, accusing commission President Ursula von der Leyen of "questionable governance" and of asking France to replace him.
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September 16, 2024
Apple App Developers Bid To Go Ahead In £785M Class Action
A lawyer for a consumer advocate told Britain's antitrust tribunal on Monday that a proposed £785 million ($1 billion) claim by app developers against Apple over payments for commission should be allowed to go ahead as a class action.
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September 16, 2024
Thoma Bravo's $5B Bid For Darktrace All Set For Completion
Darktrace PLC said Monday that a bid of approximately $5.3 billion by U.S. private equity firm Thoma Bravo for the British cybersecurity company has won all the necessary competition and regulatory approval, paving way for the deal to be completed on Oct. 1.
Expert Analysis
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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The Tricky Implications Of New Calif. Noncompete Laws
Two new California noncompete laws that ban certain out-of-state agreements and require employers to notify certain workers raise novel issues related to mergers and acquisitions, and pose particular challenges for technology companies, says John Viola at Thompson Coburn.
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Planning For Healthcare-Private Equity Antitrust Enforcement
U.S. antitrust agency developments could mean potential enforcement actions on healthcare-related acquisitions by private equity funds are on the way, and entities operating in this space should follow a series of practice tips, including early assessment of antitrust risks on both the state and federal level, say Ryan Quillian and John Kendrick at Covington.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Parsing Chinese Governance On AI-Generated Content
As essential risk-mitigation, companies with a China reach should be aware of recent developments in Chinese oversight of AI-generated content, including the latest rulings and regulations as well as the updated ambit for supervisory bodies, say Jet Deng and Ken Dai at Dacheng.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Preparing For Possible Calif. Criminal Antitrust Enforcement
Though a recent announcement that the California Attorney General's Office will resume criminal prosecutions in support of its antitrust enforcement may be mere saber-rattling, companies and their counsel should nevertheless be prepared for interactions with the California AG's Antitrust Section that are not limited to civil liability issues, say Dylan Ballard and Lillian Sun at V&E.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Antitrust Ruling Shows Limits Of US Law's Global Reach
Antitrust plaintiffs often cite the legislative history of the Foreign Trade Antitrust Improvements Act to support application of U.S. antitrust law to alleged injuries abroad, but as a California federal court recognized recently in Figaro v. Apple, the cited history does no such thing, say Daniel Swanson and Eli Lazarus at Gibson Dunn.
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Independent Regulator Could Chip Away At FIFA Autonomy
After the U.K.'s recent proposal for an independent football regulator, FIFA's commitment to safeguarding football association autonomy remains unwavering, despite a history of complexities arising from controversies in the bidding and hosting of major tournaments, say Yasin Patel at Church Court Chambers and Caitlin Haberlin-Chambers at SLAM Global.
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A Look At 3 Noncompete Bans Under Consideration In NYC
A trio of noncompete bills currently pending in the New York City Council would have various effects on employers' abilities to enter into such agreements with their employees, reflecting growing anti-noncompete sentiment across the U.S., say Tracey Diamond and Grace Goodheart at Troutman Pepper.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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DOJ's Safe Harbor Policy May Quietly Favor M&A Enforcement
In a change that has received little attention, the U.S. Justice Department's recently codified safe harbor policy essentially reads the Antitrust Division's criminal enforcement out of the policy entirely, and now appears to favor merger enforcement in antitrust, rather than criminal enforcement, as originally intended, say Daniel Oakes and James Attridge at Axinn.