A California federal judge's refusal Tuesday to nix the Federal Energy Regulatory Commission's bid to enforce a $453 million market manipulation penalty imposed against Barclays PLC and four of its traders endorses FERC's expansive view of its enforcement powers and will embolden the agency to continue its crackdown on suspected energy market-riggers, experts say.
A Federal Communications Commission commissioner on Wednesday blasted the agency's newly released public simulations of how it would reclaim spectrum and split it up between wireless carriers and broadcasters in the upcoming television spectrum buyback, saying the methodology hadn't been voted on and was flawed.
CVS Caremark Corp. on Wednesday maintained that the $5 coupons it offered as part of a prescription rewards program don’t violate the Anti-Kickback Statute when given to Medicare and Medicaid enrollees, despite a False Claims Act lawsuit in Illinois federal court filed by a customer arguing otherwise.
Sprint Corp. urged the Federal Communications Commission on Wednesday to tweak its plans for the low-band spectrum reserved for small providers in an upcoming auction, saying the current procedures invite bidding strategies that would stifle competition.
A Florida magistrate judge on Wednesday gave two sides fighting over the release of documents in a pay-for-delay putative class action a little of what each wanted, allowing drugmaker Shire US Inc. to keep some papers under wraps while ordering it to turn over others.
A former Novartis Pharmaceutical Corp. employee has fired back at the drugmaker's discovery clawback efforts in a False Claims Act suit alleging drug referral kickbacks, telling a New York federal court that Novartis is withholding critical documents and improperly coaching deposition witnesses.
A Massachusetts federal judge on Wednesday signed off on a $98 million deal between buyers of organ transplant anti-rejection drug Prograf and Astellas Pharma US Inc., ending allegations Astellas delayed entry of a generic form of the immunosuppressant, while also approving a request from the buyers' lawyers for $34 million in fees and expenses.
The Eleventh Circuit on Wednesday denied former Alabama Democratic Gov. Don Siegelman a new bribery trial, finding that a lower court rightly found no continuing conflict of interest from a prosecutor after she recused herself from the case, in which Siegelman was convicted in 2006 of soliciting a $500,000 bribe.
U.S. agribusiness giant Monsanto Co. said Wednesday that it plans to divest Syngenta AG’s seeds and traits assets, along with certain overlapping chemistry assets, in an effort to gain regulatory approval from antitrust agencies if its attempt to acquire Syngenta succeeds.
Creditors of Exide Technologies Inc. looking into possible lead price-fixing schemes that may have affected the bankrupt battery maker agreed Wednesday in Delaware bankruptcy court to work with Goldman Sachs Group Inc., JPMorgan Chase & Co. and others and establish just what documents will satisfy the creditors' discovery requests.
“If you ain’t cheating, you ain’t trying.” This isn’t just an overused and cynical sports adage, it’s one of many jaw-dropping exchanges by a group of traders who called themselves the “cartel” and teamed up to manipulate global foreign exchange markets. Here, Law360 looks at a few of the choicest conversation snippets from that trader chat room and others detailed in Barclays PLC's settlements with regulators.
In wrangling guilty pleas and $5.6 billion from some of the world's largest banks, the U.S. Department of Justice on Wednesday showed it can push the prosecutorial needle without tilting the financial world into chaos. But by shielding institutions from some of the collateral effects of a criminal conviction, the government has done little to deter the next installment of traders behaving badly, experts say.
A California federal judge on Tuesday refused to shut down the Federal Energy Regulatory Commission’s bid to enforce a $453 million market-manipulation penalty imposed against Barclays PLC and four of its traders.
The more than $5.6 billion in fines and guilty pleas U.S. and U.K. authorities announced Wednesday as five of the world's largest banks admitted to manipulating foreign exchange rates are massive, but there's still plenty more to the rate-fixing allegations that could yield additional fines, civil settlements and guilty pleas. Here, Law360 takes a look at what's left.
Dish Network Corp. and its former attorneys urged a Texas federal court Tuesday to uphold a $34 million judgment against their former insurer, saying the OneBeacon Insurance Co. shouldn’t get a “do over” by raising new objections about the size of the award or rehashing old arguments.
Sharp Electronics Corp. has reached an agreement with Philips Electronics North America Corp. and three affiliates to settle claims Philips was part of a conspiracy to fix the prices of cathode ray tubes in televisions, according to a Tuesday filing in California federal court.
A New York federal judge declined Tuesday to put on hold his injunction that allows merchants to steer customers away from using American Express cards to cards with cheaper rates.
Auto parts manufacturer Grupo Antolin North America Inc. sought Tuesday to head off a discovery subpoena for its sales documents in vast multidistrict litigation over price-fixing allegations to which it is not a party, arguing in Michigan federal court that it possesses few of the documents sought and those it does have are privileged.
Jones Day has a new partner in its insurance recovery practice after recruiting a former Kelley Drye & Warren LLP attorney who has dealt with claims involving employment issues, false advertising, financial fraud, intellectual property and antitrust, Jones Day announced on Wednesday.
The plaintiffs accusing Takeda Pharmaceutical Co. and other drugmakers of participating in a pay-for-delay scheme for the Actos diabetes drug argued Tuesday in New York federal court that a recent high-profile ruling against the Federal Trade Commission in a similar filing should not have any bearing on the case.
The Federal Trade Commission's proposed settlement with Cardinal Health Inc. is a reminder that antitrust disgorgement penalties are gaining prominence at the U.S. antitrust agencies and that conduct short of an explicit exclusive agreement by firms with high market shares may run afoul of the antitrust laws, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
While the U.S. Department of Justice has billed the David Topkins price-fixing case as the Antitrust Division’s first criminal prosecution against a conspiracy specifically targeting e-commerce, the prosecution was in some ways foreshadowed by earlier prosecutions of the division, including its civil investigation of, and subsequent lawsuit against, ATP Co. in the early '90s, say attorneys with Cadwalader Wickersham & Taft LLP.
At trial, there are so many moving parts at any given moment that it can be difficult to keep a firm eye on preservation for a later appeal. For new and seasoned trial lawyers alike, we suggest you bring to court a cheat sheet of all of the key moments when you must preserve your objections to ensure nothing is waived for appeal, say Dawn Solowey and Lynn Kappelman of Seyfarth Shaw LLP.
The termination of the Applied Materials/Tokyo Electron transaction provides a stark reminder that antitrust agencies will closely scrutinize innovation and R&D when assessing the competitive effects of a proposed transaction — particularly in industries where a small number of competitors with large R&D budgets are viewed as driving innovation, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
The oral argument in the California Supreme Court's Cipro case left observers expecting — and the pharmaceutical industry fearing — that the court might one-up the U.S. Supreme Court’s decision in Actavis and impose a stringent new antitrust test for Hatch-Waxman settlements. Instead, the decision hewed closely to Actavis, say Christopher Kelly and Colleen Tracy James of Mayer Brown LLP.
In its antitrust investigation of Google Inc., the European Commission is acknowledging that, in a world where mobile is becoming the primary mode of access to the Internet for large numbers of people, controlling the dominant mobile operating system just might be as crucial to Google’s business model and anti-competitive role as its search engine, says Nathan Newman, director of the nonprofit Data Justice.
The NFL draft is the culmination of months of research and often years of watching top player prospects, all in the hopes of making the right decision on draft day and assembling the right athletes for a shot at a championship season. Law firm management, does this sound familiar to you? asks Mark Levin, co-founder of The Right Profile LLC and a former chief business development officer for two Chicago law firms.
For attorneys counseling clients about the importance of an effective compliance program, the recent Boeing Space and Intelligence Systems case illustrates how things are supposed to be done, and the benefits of doing things the right way, say attorneys with Holland & Knight LLP.
With the increase in parallel proceedings and actions based on fraud and other white collar crimes, how to handle a company-related witness invoking the Fifth Amendment is becoming increasingly important in civil trials, say Christopher Casamassima and Gregory Boden of WilmerHale.
As a result of the U.S. Supreme Court’s ruling in Oneok v. Learjet, wide swaths of conduct continue to be subject to both state energy regulations and generally applicable state laws, including state antitrust laws. It may also subject conduct otherwise permitted by the Federal Energy Regulatory Commission to civil liability, say Jonathan Grossman and Thomas Ingalls of Cozen O'Connor.