Law360, New York (August 18, 2011, 2:38 PM ET) -- The Second Circuit on Thursday affirmed a decision to nix New York City's attempt to nullify a merger between insurers Group Health Inc. and HIP Foundation Inc. over antitrust concerns.
A three-judge panel for the appeals court echoed a district court's finding that the city's definition of the relevant market in which competition was allegedly affected by the merger was improperly limited to a single purchaser: the city itself.
"The market in the city's complaint ignores the competition existing among insurance providers for the city's business,...
2nd Circ. Rejects NYC Bid To Undo Insurance Merger
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