The Slow Drift Toward More Antitrust Exemptions

Law360, New York (December 13, 2011, 2:45 PM EST) -- For as long as there have been industry-specific regulatory regimes — securities regulations or the old U.S. Interstate Commerce Commission, for example — the regulated players have been arguing that they should be exempt from general antitrust liability to private plaintiffs.[1]

After all, the argument goes, if Congress has decided to set specific rules for an industry, why should the generally applicable, “default” antitrust laws also apply?

One of the earliest cases regarding an antitrust exemption framed it thusly: “Can it be that Congress intended to...
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