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Competition
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November 15, 2024
Visa Says European Commission Investigating 'Acquirer' Fees
Visa is telling investors that European competition regulators are looking into its merchant fees, disclosing in its annual report this week that the European Commission has been investigating it since August.
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November 14, 2024
7th Circ. Unsure Of Meta's Bid To Arbitrate Deceptive Ads Suit
The Seventh Circuit seemed unsure Thursday whether it should allow Meta to steer a media company's ad deception antitrust claims away from court and into arbitration, saying the case seems to fall outside the agreement Meta is trying to enforce.
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November 14, 2024
Judge Vows Atty Fee Trims For Handling Of $90M Google Deal
A California federal judge overseeing Google's $90 million antitrust deal with Play Store developers on Thursday blasted counsel representing smaller developer plaintiffs and the administration company handling the settlement, criticizing the administrator's work as "the worst performance I've seen" and vowing to trim the attorney fees "substantially."
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November 14, 2024
Ex-JP Morgan Rep To Stop Soliciting Clients Amid Arbitration
A former J.P. Morgan Securities LLC employee who left to work for Morgan Stanley has agreed not to solicit customers from her former employer while the parties arbitrate the broker-dealer's claims she lured clients with more than $12 million in assets away to its rival.
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November 14, 2024
'The World Has Changed': Google's $700M Deal Gets 2nd Look
The California federal judge considering Google's $700 million antitrust deal with states and consumers told plaintiffs' counsel Thursday to review the settlement terms to ensure that they comport with Google Play store changes he ordered in Epic Games' separate lawsuit, saying "the world has changed" since they struck the deal.
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November 14, 2024
Atty's Conduct In IP Case Merits Fees Sanction, Judge Says
A California federal judge said Thursday an attorney who represented a company that lost a trade dress infringement case should be jointly responsible with his client, Iconic Mars Corp., for paying attorney fees and costs for his conduct during litigation that culminated with microphone manufacturer Kaotica Corp. prevailing at trial in June.
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November 14, 2024
NYC Speeds Away From Taxi Drivers' RICO Claim
New York City and its transportation officials have escaped a racketeering suit filed by New York cabdrivers that accused them of artificially pumping the value of taxi licenses, a federal judge ruled, saying that drivers failed to show that awarding them money would prevent others from becoming victims of the same allegedly "fraudulent scheme."
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November 14, 2024
AT&T Questions FCC's Legal Authority Over 'Unlocking' Rule
AT&T has told the Federal Communications Commission that its proposal requiring mobile providers to unlock a customer's device within 60 days of signing up won't stand up in court.
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November 14, 2024
All Merger Fixes 'Should Be On Table,' FTC's Holyoak Says
One of the Federal Trade Commission's Republican members on Thursday signaled a significant softening of the Biden era's tough stance against merger remedies meant to fix otherwise problematic mergers is likely once the GOP takes the majority at the agency.
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November 14, 2024
FTC's Holyoak Says New Comment Portal Shows Merger Bias
Federal Trade Commissioner Melissa Holyoak said Thursday the design of a new portal allowing the public to comment on pending deals shows signs of the current leadership's view that all mergers are bad.
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November 14, 2024
Emergency Medical Providers Oppose $2.8B BCBS Deal
A group of emergency clinic medical providers objected to the $2.8 billion settlement a broader class of medical providers reached with the Blue Cross Blue Shield network of insurers last month, as attorneys for the overall class boasted that the settlement would transform the insurers and bring historic payouts.
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November 14, 2024
Cherokee Nation Can't Get Ark. Casino Amendment Blocked
An Arkansas amendment that revokes the casino gaming license of a Cherokee Nation tribal entity has taken effect after a federal district court judge denied a bid to block the measure while also dismissing the state and its racing commission as defendants in the litigation.
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November 14, 2024
Trump Taps His Criminal Defense Lawyer For Deputy AG
President-elect Donald Trump on Thursday picked his personal defense attorney Todd Blanche to serve as second-in-command at the U.S. Department of Justice as deputy attorney general.
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November 14, 2024
DOJ Deputy Says Biden Stance Led To Fewer Harmful Mergers
The deputy head of the U.S. Department of Justice's Antitrust Division offered a full-throated defense Thursday of the Biden administration's aggressive competition enforcement record, arguing, with a Republican takeover imminent, that "more demanding standards" for transaction remedies prompted real change by merging companies seeking to avoid a merger challenge.
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November 14, 2024
Boehringer Says Inhaler Antitrust Suit 'Fails On Its Face'
Boehringer Ingelheim Pharmaceuticals Inc. and Boehringer Ingelheim International GMBH have urged a Connecticut federal judge to dismiss a proposed class action brought by health funds accusing it of monopolizing the inhaler market with improper patent listings, arguing the suit fails to allege any competitors were actually hindered by those patents.
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November 14, 2024
South Dakota Slams NCAA Over NIL Settlement 'Notice'
South Dakota's attorney general has continued lodging criticism at the NCAA over its handling of a massive lawsuit related to the way student-athletes are compensated, telling a California federal judge the organization has failed to properly notify the state and others of a preliminary $2.78 billion settlement.
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November 14, 2024
Gaetz's Slim Legal Resume Raises Concerns Over AG Role
Having never served as a prosecutor and with minimal experience practicing law, Matt Gaetz would have the thinnest legal resume of any attorney general in recent history and would face a steep learning curve, including daunting leadership challenges, if he were to take up the reins of the U.S. Department of Justice, experts say.
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November 14, 2024
Chipmaker's 'Bounty' Lawsuit Was 'Nonsensical,' Court Told
A pair of litigation businesses want a California federal court to punish a Taiwanese chipmaker for responding to a patent lawsuit with "frivolous," "meritless" and "nonsensical" antitrust allegations surrounding use of a "bounty" to encourage litigation.
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November 14, 2024
Capri, Tapestry Kill $8.5B Handbag Deal Amid FTC Battle
Capri Holdings Ltd. and Tapestry Inc. have called off their $8.5 billion merger following an extended regulatory battle with the Federal Trade Commission, with the companies mutually agreeing to terminate the deal because it is "unlikely" to obtain the regulatory approvals needed to close on time, Capri said Thursday.
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November 14, 2024
EU Clears Consortium's €2.2B Bid For Cybersecurity Biz
The European Commission said Thursday that it has cleared the approximately €2.2 billion ($2.4 billion) acquisition of French cybersecurity firm Exclusive Networks by its biggest shareholder Permira and U.S. private equity firm Clayton Dubilier & Rice.
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November 14, 2024
Meta Fined €798M For Tying Marketplace Ads To Facebook
The European Union's antitrust watchdog hit Meta Platforms Inc. with a €797.8 million ($841 million) fine Thursday for giving its Facebook Marketplace an unfair advantage over rival online classified ads services by automatically showing postings to its social media users.
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November 13, 2024
Nvidia, Microsoft Rip Antitrust Suit And Its 'Imaginary' Cartel
Nvidia and Microsoft have urged a Texas federal judge to toss a startup's suit alleging that they engaged in an anticompetitive conspiracy to fix prices for graphic processing units used in powering artificial intelligence, with Nvidia saying the startup's "low patent quality" is just as likely to have caused purported injuries.
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November 13, 2024
UNC Tennis Player Narrows Prize-Money Suit Against NCAA
A University of North Carolina tennis player is taking another swing at NCAA rules stopping college athletes from accepting prize money in outside tournaments, this time limiting the proposed class action to Division I tennis players rather than athletes in a slew of non-revenue generating college sports.
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November 13, 2024
Tempur Sealy Has 'Keys' To Merger, Mattress Firm CEO Says
Mattress Firm's CEO told a Houston judge Wednesday that he has not had any involvement in Tempur Sealy's post-acquisition agreements with mattress suppliers, testifying that Tempur's board chairman and CEO is the one "driving" the deal.
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November 13, 2024
Damages Limited In AGs' Generic Drug Price-Fixing Case
A Connecticut federal judge has nixed some claims against Sandoz Inc. and other generic-drug makers in a massive antitrust and unfair trade practices case filed by state attorneys general, finding that a handful of the enforcers cannot seek damages on behalf of their allegedly injured citizens.
Expert Analysis
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Takeaways From Novo Nordisk's Fight For Market Exclusivity
Generic competitors’ challenge to Novo Nordisk’s patents in hopes of capturing a portion of the rapidly expanding Type 2 diabetes and obesity treatment market highlights the role of abbreviated new drug application litigation, inter partes review and multidistrict litigation in patent defense, says Pedram Sameni at Patexia.
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Managing Sanctions Defense Across Multiple Jurisdictions
Companies called before multiple regulators to account for the same conduct in this era of increased global sanctions and import-control enforcement should consider national differences in law and policy, and proactively coordinate their responses in certain key areas, say attorneys at Baker McKenzie.
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Takeaways From TOTSA Settlement And Critical CFTC Dissent
The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.
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Building US-Japan Relationships In The M&A Market
The prospect of U.S.-Japanese mergers and acquisitions presents stronger competition to U.S. investors in the global M&A markets, while also opening up an additional exit route for sellers looking to offload strategic assets, says Nick Wall at A&O Shearman.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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FTC Focus: How Scrutiny Of PBMs And Insulin May Play Out
Should Express Scripts' recent judicial challenge to the Federal Trade Commission succeed, any new targets could add litigation and choice of forum to their playbooks, and potential FTC court action on insulin could be forced to parallel venues as the issues between the commission and PBMs evolve, say attorneys at Proskauer.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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A Class Action Trend Tests Limit Of Courts' Equity Powers
A troubling trend has developed in federal class action litigation as some counsel and judges attempt to push injunctive relief classes under Rule 23(b)(2) of the Federal Rules of Civil Procedure beyond the traditional limits of federal courts' equitable powers, say attorneys at Jones Day.
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Antitrust Issues To Watch Amid Google Ad Tech Trial
Regardless of the outcome of the U.S. Department of Justice's advertising technology antitrust suit against Google in Virginia federal court, matters ranging from market definition to unified pricing will likely have far-reaching implications for the digital advertising industry, competition and innovation, say attorneys at Holland & Knight.
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How Lucia, Jarkesy Could Affect Grocery Merger Challenge
While the Federal Trade Commission is taking a dual federal court and administrative tribunal approach to block Kroger's merger with Alberstons, Kroger's long-shot unconstitutionality claims could potentially lead to a reevaluation of the FTC's reliance on administrative processes in complex merger cases, say attorneys at Saul Ewing.
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What PCOAB's Broadened Liability Rule Means For Auditors
The U.S. Securities and Exchange Commission’s recent vote agreeing to lower the Public Company Accounting Oversight Board's liability standard, allowing the board to charge individual auditors whose mere negligence leads firms into PCOAB violations, may erode inspection cooperation, shrink the talent pool and have anticompetitive outcomes, say attorneys at BakerHostetler.
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Series
Round-Canopy Parachuting Makes Me A Better Lawyer
Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.
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And Now A Word From The Panel: The MDL Map
An intriguing yet unpredictable facet of multidistrict litigation practice is venue selection for new MDL proceedings, and the Judicial Panel on Multidistrict Litigation considers many factors when it assigns an MDL venue, says Alan Rothman at Sidley Austin.
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Dealmaker Lessons From CFIUS' New Enforcement Webpage
The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.
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Presidents And Precedents May Direct Khan's Future Course
While the Sept. 25 technical expiration of Federal Trade Commission Chair Lina Khan's term demands no immediate action, it does invite an analysis of commission policy and post-election possibilities, says Axinn's Richard Dagen, a former FTC official.