Carlyle Group LP has agreed to pay about $115 million to settle a long-running proposed class action brought against it and several other private equity firms for allegedly teaming up to depress prices in leveraged buyouts leading up to the financial crisis, according to media reports on Friday.
A New York federal judge on Friday freed Goldman Sachs Group Inc., JPMorgan Chase & Co. and others from multidistrict litigation alleging they conspired to manipulate the supply of aluminum to inflate its value, ruling that the plaintiffs lack antitrust standing and haven't sufficiently pled the existence of a conspiracy.
Eckert Seamans Cherin & Mellott LLC struck back Wednesday against a motion seeking the firm's disqualification from defending a Pennsylvania businessman accused of concealing his involvement in Luzerne County's “kids for cash” scandal to induce a business partner to invest in juvenile detention facilities.
A California federal judge granted preliminary approval Friday to eBay Inc.’s $3.75 million settlement in state prosecutors’ case over eBay’s anti-competitive agreement not to poach Intuit Inc.’s workers, a sibling to the recently rejected $324.5 million class action deal between tech giants and Bay Area engineers.
A Michigan federal judge overseeing sprawling multidistrict litigation over auto part price-fixing refused Friday to dismiss claims direct purchasers brought against bearings and occupant safety restraints manufacturers, pointing to guilty pleas entered by some of the defendants in related criminal litigation.
A New York state court judge has ruled American International Group Inc. doesn’t have to pay defense costs for individual and proposed class action suits brought by mortgage borrowers who claim QBE Holdings Inc. paid improper kickbacks to banks — but Darwin Select Insurance Co. does — because AIG’s policy lacks a duty-to-defend provision.
Gamesa Wind US urged the Seventh Circuit on Thursday to hit a wind turbine maintenance company with sanctions for attempting to appeal a dismissal of antitrust counterclaims that it had argued were too weak for federal jurisdiction, claiming it was well-deserving of attorneys’ fees for the “frivolous” appeal.
The U.S. Federal Trade Commission on Friday unanimously approved settlements with two Internet resellers of UPC barcodes that allegedly invited competitors to join in a collusive scheme to raise their barcode prices.
The U.S. Department of Justice is urging a California federal judge to reject free speech arguments advanced in a False Claims Act case by Pharmaceutical Research and Manufacturers of America, adding more fuel to a fiery debate surrounding punishment of off-label promotion.
JPMorgan Chase & Co., Bank of America Corp. and other large banks targeted in the foreign exchange antitrust litigation told a New York federal court on Thursday that the plaintiffs still have not alleged that the banks have manipulated the market.
Microsoft Corp. has asked the U.S. Supreme Court to reject a request to revive a $1 billion antitrust suit brought against it by PC-sharing software maker MiniFrame Ltd., arguing the Second Circuit properly tossed the suit by treating the allegations as a refusal to deal claim.
The Commodity Futures Trading Commission filed a brief Thursday supporting its motion to dismiss the rest of a civil suit brought by the Depository Trust & Clearing Corp., arguing that the market utility’s case rests on a faulty premise that the regulator wrongly approved a rule change that benefited a rival in the business of collecting data on swaps.
Reynolds American Inc.'s proposed $27 billion takeover of rival tobacco company Lorillard Inc. is facing antitrust scrutiny despite a deal to unload several brands to Imperial Tobacco Group PLC, according to a regulatory filing Friday.
The Federal Trade Commission will require pharmaceutical company Prestige Brands Holdings Inc. to divest assets connected with the motion sickness drug Bonine to resolve competition concerns over its proposed $750 million acquisition of Insight Pharmaceuticals LLC, the agency said Thursday.
Apotex Inc. asked a New Jersey federal court to throw out a contract suit against it by rival Mylan Inc., claiming the company can’t show Apotex acted with malice in continuing to sell generic versions of the antidepressant Paxil that it obtained from GlaxoSmithKline PLC.
A shareholder on Wednesday filed a securities class action against generic-drug maker Lannett Company Inc. in a Pennsylvania federal court, saying Lannett’s executives hid a scheme to fix the prices of the drug digoxin that led to its stock tanking when news of an investigation came out.
Intel Corp. has appealed its €1.1 billion ($1.5 billion) abuse of dominance fine over the chipmaker's exclusive loyalty rebates to the European Union's highest court.
A consumer who filed an antitrust class action against the National Football League and Reebok International Ltd. over their exclusive merchandise licensing deals intends to drop out because of health issues, according to a case management statement filed Thursday in a California federal court.
Germany’s competition watchdog slapped five specialist mining companies with fines totaling €17.4 million ($22.9 million) for alleged bid- and price-rigging on Thursday, with the regulator’s president saying they colluded to divide projects among themselves.
Dollar General Corp. said Thursday that it remained “firmly committed” to its $8.9 billion bid for Family Dollar Stores Inc. after the target flagged antitrust issues with the proposal and said it instead would pursue a less lucrative tie-up with a third discount retailer.
The departure of attorneys from large firms is a trend that has increased as a result of the Great Recession and its aftermath, and boutique firm partners who previously worked at large firms understand the potential large-firm pitfalls, say attorneys with Levine Kellogg Lehman Schneider & Grossman LLP.
Given the significant differences among the circuits in examining the crime-fraud exception, and the Third Circuit’s recent erosion of the attorney-client privilege, U.S. Supreme Court review is necessary to ensure the consistent treatment of litigants and to protect the privilege, say attorneys with Blank Rome LLP.
India’s newly proactive competition authority has begun scrutinizing and investigating pharmaceutical patent settlement agreements between brand and generic firms for potential anti-competitive effects, and its analysis of such agreements is likely to parallel the enforcement policies in the United States, say attorneys with Wilson Sonsini Goodrich & Rosati PC.
A Delaware Supreme Court decision in a Wal-Mart shareholder suit connected to alleged bribery may breathe new life into the Garner doctrine and serves as a reminder of the fragility of the attorney-client privilege, say Bruce Ericson and Dorothy Kaslow of Pillsbury Winthrop Shaw Pittman LLP.
Recent developments indicate that the regulatory mood in the United States and U.K. is increasingly shifting toward going after not only companies involved in cartel activity, but also individuals working at those companies, say Trupti Reddy and Chime Metok Dorjee of Edwards Wildman Palmer UK LLP.
Over the years, the scope of prohibited conduct covered by the Anti-Kickback Statute has expanded, giving the federal government extraordinary power to investigate and prosecute those suspected of putting their own financial well-being ahead of their patients’ care, say Steve Grimes and Dan Rubinstein of Winston & Strawn LLP.
The Federal Trade Commission has increasingly challenged conditional pricing practices, but without articulating a bright-line rule. Practitioners should always consider whether the economic realities of a client’s industry lends itself to one analysis over the other, say attorneys with Ballard Spahr LLP.
In the last five months, three circuit courts have interpreted the Foreign Trade Antitrust Improvements Act, with some staking out differing positions on important aspects — namely, the requirement that foreign anti-competitive conduct have a direct effect on U.S. commerce in order to fall outside the FTAIA's general exemption for foreign conduct, say Jeffrey Jacobovitz and David Hobson of Arnall Golden Gregory LLP.
"If you follow the philosophy of saving everything you're just multiplying exponentially the costs and risks of litigation and investigations," says Robert Owen, partner in charge of Sutherland Asbill & Brennan LLP's New York office and president of the Electronic Discovery Institute.
For companies with global operations, the Second Circuit's recent decision in Liu v. Siemens AG should provide at least some level of comfort that allegations by foreign employees regarding conduct exclusively outside the United States are outside the reach of Dodd-Frank’s anti-retaliation provision, say attorneys with Debevoise & Plimpton LLP.