A number of the world’s largest banks could have to pony up as much as $40 billion in combined fines to settle the alleged rigging of foreign currency exchange markets, with Deutsche Bank AG and Barclays PLC set to owe the most, according to a Monday report released by Citigroup Inc.
A Texas federal jury on Friday issued a $20.5 million verdict in favor of law firm T. Wade Welch & Associates to conclude a trial over whether OneBeacon Insurance Group Ltd. had to indemnify the firm against malpractice claims that its former client Dish Network Corp. brought after being sanctioned in antitrust litigation.
The Third Circuit on Monday upheld the dismissal of a former Medco Health Solutions Inc. executive's False Claims Act kickback suit against Bristol-Myers Squibb Co. and AstraZeneca Pharmaceuticals LP, saying that firsthand knowledge of improper activity is necessary to overcome the FCA's public disclosure bar.
Attorneys representing Apple Inc. e-book consumers on Friday sought a New York federal judge's approval of a uniquely structured fee award that could net plaintiffs firms as much as $30 million, arguing the payout is warranted because Apple fought counsel aggressively at each step of the antitrust litigation.
With Comcast Corp. waiting for approval of its proposed $45 million mega-merger with Time Warner Cable Inc., Senate Finance Committee head Sen. Patrick Leahy, D-Vt., is calling on the cable giant to promise that it will not create “fast lanes” on its network.
Ask.com on Friday became the latest Silicon Valley tech company to be sued over allegations that it had colluded with Google Inc. and others to keep down salaries by agreeing not to poach each other's directors, according to a proposed California federal antitrust class action.
Dr. Reddy's Laboratories Ltd. agreed Sunday to help drug buyers make their pay-for-delay case against AstraZeneca PLC and two generic-drug makers as part of a settlement inked on the eve of trial in the antitrust class action.
The U.S. Supreme Court on Monday declined to address whether a former president of Control Components Inc.’s South Korean office can be declared a fugitive even though he is a foreign national who never fled American authorities in the face of Foreign Corrupt Practices Act charges.
Quinn Emanuel Urquhart & Sullivan LLP has bolstered its London office by snagging a competition partner from specialist claimant competition litigation firm Hausfeld LLP, the firm announced.
An Illinois federal judge has allowed General Motors LLC to join three settlement classes in a consolidated class action against eight steelmakers accused of scheming to inflate prices, allowing GM to withdraw its previous exclusion request.
Canada's highest court ruled Friday that consumers pursuing a class action against several gas station operators could get access to wiretaps made of the alleged conspirators during the government's criminal probe of the plot.
A California federal judge on Friday refused to halt the $1.1 billion settlement in a multidistrict litigation over price-fixing on liquid crystal displays while lender LFG National Capital LLC awaits final judgment in a separate suit seeking a $31.1 million loan repayment from the plaintiffs' attorney.
A New Jersey federal judge on Friday freed Sidley Austin LLP from a subpoena seeking documents related to its probe of PetroTiger Ltd. following its former CEO's indictment for allegedly conspiring to bribe Colombian officials to secure a $39 million contract.
The Armed Services Board of Contract Appeals recently dismissed an Iraq war contractor's claim for $2.9 million in costs, finding that the presence of kickbacks in some areas of a contract meant that the government doesn't have to pay any of the disputed claims.
Four experienced attorneys who primarily last worked with Goldberg Lowenstein & Weatherwax LLP have banded together to form a Los Angeles-based firm called Kesselman Brantly & Stockinger LLP, which will focus on antitrust, employment and corporate litigation matters, the partners announced Wednesday.
Lannett Company Inc. on Friday asked a Pennsylvania federal judge to slap a shareholder and his attorneys with sanctions for filing and then withdrawing a securities class action alleging that the generic-drug maker's executives hid a scheme to fix prices of the heart failure drug digoxin, contending that the "frivolous" suit was unsupported by facts.
Prosecutors have agreed to drop a final criminal charge against a former state senator ensnared in an alleged bid-rigging and pay-to-play scheme at the Pennsylvania Turnpike Commission following a judge’s decision to ax the bulk of the state’s case against the ex-lawmaker.
A Pennsylvania federal judge overseeing multidistrict litigation over an alleged price-fixing conspiracy in the mushroom market has allowed a collective of mushroom growers and sellers to appeal to the Third Circuit a five-year-old ruling that they are not immune to antitrust claims under federal law.
A California federal judge on Friday ordered Toshiba Samsung Storage Technology Corp. Korea to hand over recordings of conversations between a government cooperator and several co-defendants in multidistrict litigation over price-fixing on optical disk drives, calling the nonparty Korean company's efforts to withhold the tapes “preposterous.”
AU Optronics Corp. urged the Ninth Circuit on Thursday to rehear its appeal of a $500 million price-fixing fine levied against the liquid crystal display producer, denying that the company has waived its chance to seek a narrower sentence that accounts only for its direct imports.
In response to a business review request, the U.S. Department of Justice recently announced that it will not challenge a proposed cyberintelligence data-sharing platform. The analysis offers further guidance into the DOJ’s future enforcement of the antitrust laws in the cyber information-sharing arena. And it could not be more timely, say attorneys with Norton Rose Fulbright.
The Federal Trade Commission's recently revised "Guides for Advertising Allowances and Other Merchandising Payments and Services" reflect the growing importance of the Internet and online commerce, recognizing explicitly that online retailers can and often do compete with brick-and-mortar retailers, say James Fishkin and Irene Ayzenberg-Lyman of Dechert LLP.
Many legal briefs are written in impenetrable jargon and begin with an introduction telling the court what it already knows, using words that stem from the 18th century, such as “hereinafter.” Instead, we should approach briefs the way novelists approach their writing, says Michael Rubin of McGlinchey Stafford PLLC.
The U.S. Supreme Court recently heard oral arguments in North Carolina State Board of Dental Examiners v. Federal Trade Commission — the second time in two years that the court has considered the state action doctrine. The decision could have broad implications for the structure and operation of state professional review boards and associations, says Dionne Lomax of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
With recent examples in mind, there is no clear indication that offensive use of the Foreign Corrupt Practices Act is actually a new frontier as opposed to another somewhat underhanded effort at securing a competitive advantage, say Kedar Bhatia and Shamoil Shipchandler of Bracewell & Giuliani LLP.
The U.K. Competition Appeal Tribunal recently quashed the Office of Fair Trading's decision to close its investigation into pricing arrangements entered into by Booking.com BV, Expedia Inc. and InterContinental Hotels Group PLC, which will encourage companies to closely monitor commitment negotiations in their industry and to raise objections if they fear their business may be affected, say attorneys with Shearman & Sterling LLP.
In their efforts to combat unfair competition, Chinese authorities have used both antitrust and anti-corruption laws, targeted specific industries, conducted swift investigations, executed dawn raids to obtain evidence, and shared information among different departments. It is highly likely that this will continue for the foreseeable future, impacting the operations of many multinationals, say Kareena Teh and Fabian Roday of Dechert LLP.
Today, information intersects every practice area, making all lawyers effectively information governance practitioners in one way or another. The issue is whether you will consciously embrace this emerging discipline — and capitalize on it to the benefit of your clients and your practice, says Ann Snyder of the Information Governance Initiative.
If Public Citizen's amicus brief in the U.S. Supreme Court case Dart Cherokee Basin Operating Co. v. Owens is correct in arguing that an appellate court can insulate questions arising under the Class Action Fairness Act from Supreme Court review by denying leave to appeal then that will create perverse incentives for lower courts and may hamper the development of uniform rules governing CAFA removals, says Archis Parasharami of Mayer Brown LLP.
Courts approaching royalty rates on a patent licensed on fair, reasonable and nondiscriminatory terms are working to determine the overall value of the product that is attributable to the patented technology in the context of the related standard, but how best to do that in the selection of the royalty base is under dispute, say Anne Layne-Farrar of Charles River Associates and Koren Wong-Ervin, counsel at the Federal Trade Commission.