Barclays PLC announced Thursday that it has taken a £500 million ($800.3 million) provision in the third quarter related to government investigations into its foreign exchange trading activities, joining another bank that announced a large set-aside this week.
The Eleventh Circuit on Thursday sent to arbitration a dispute brought by U.S. Nutraceuticals LLC alleging that microalgae products maker Cyanotech Corp. breached an agreement by stealing confidential information.
A Pennsylvania federal judge declined Wednesday to block the sale of a Nissan North America LLC dealership at the center of an antitrust lawsuit, ruling that the rebuffed would-be buyer had not proven the necessity of an injunction in his suit alleging price-fixing.
MF Global Inc. has reached settlements in two class action lawsuits alleging price manipulation in the palladium and platinum markets that will allow plaintiffs to file $21.1 million in claims in MF Global’s bankruptcy and receive over $6 million in cash, according to Wednesday New York federal court filings.
A New York City substance abuse treatment company accused of ongoing Medicaid fraud involving kickbacks from its outpatients was hit with a temporary restraining order on Wednesday that prevents the organization from evicting residents in its short-term housing facilities who refuse to take part in the alleged scheme.
A U.K. judge ruled on Thursday that retailers' antitrust claims against Visa Inc. over the credit card issuer's use of multilateral interchange fees can only go back seven years, a decision that trims Visa's potential liability by approximately £500 million ($801 million).
A Nevada federal judge on Wednesday tossed a private clinic’s suit accusing GlaxoSmithKline LLC, nonprofit Apexus Inc. and a public health agency of abusing a federal drug-discount program, ruling the agency’s purchase of vaccines was exempted from an antitrust law.
BP PLC said Tuesday the Federal Trade Commission has closed its investigation into whether the company was involved with anti-competitive practices regarding the reporting of oil prices, although similar inquiries in other countries remain open, according to the oil giant's quarterly financial report.
The California federal judge presiding over an upcoming class action trial accusing Apple Inc. of monopolizing the market on digital music ruled Wednesday that Apple couldn't pull the jury’s heartstrings by saying co-founder Steve Jobs died of cancer, and discouraged the tech titan from calling Jobs a “visionary.”
Biomet Inc. will pay $6 million to resolve a whistleblower’s False Claims Act suit in New Jersey federal court alleging that it showered doctors' office staff with kickbacks to encourage use of bone-growth stimulators and improperly billed Medicare for refurbished medical devices, the U.S. Department of Justice said Wednesday.
The Federal Trade Commission's two Republicans both highlighted the watchdog's move Tuesday to sue AT&T Inc. for "throttling" service it had billed as unlimited to wireless customers as a prime example of how the competition enforcer can protect consumers without net neutrality rules.
Teva Pharmaceutical Industries Ltd. urged the Third Circuit on Tuesday not to revive a suit over a no-authorized-generic deal between the company and GlaxoSmithKline PLC regarding Lamictal, claiming that dismissals in other antitrust cases support the notion that the U.S. Supreme Court’s Actavis ruling has limited reach.
Barclays Bank PLC was hit Tuesday with a Saudi Arabian real estate and construction company’s $10 billion complaint in New York state court alleging the bank fraudulently settled a suit against the Saudi government over unpaid lease payments in exchange for a share in $925 million and a lucrative banking license.
The European Union’s competition watchdog on Wednesday dropped its allegations that Finnish paper maker Ahlstrom Corp and Sweden’s Munksjo AB gave misleading information to regulators to win merger approval, saving the combined company, Munksjo Oyj, from paying a potentially hefty fine.
Manatt Phelps & Phillips LLP has snagged an antitrust partner with over two decades of experience for its New York office from Shearman & Sterling LLP, where she represented clients in multibillion-dollar acquisitions and helped create the firm’s U.K. competition practice.
A group of Philadelphia-area Comcast Corp. customers on Tuesday said the cable giant would pay $50 million to settle their decade-long putative class action accusing Comcast of controlling a regional monopoly for TV services.
A former Mayer Brown LLP chief information officer was sentenced to 27 months in prison on Tuesday for his role in a $4.8 million billing and kickback scheme that victimized the law firm.
An Ohio federal judge has put an end to a small Dayton hospital's claims that larger rival Premier Health Partners had tried to stifle competition by keeping the hospital from getting access to key physician referrals and insurance networks, saying the defendants count as a single entity.
Following an announcement that Persian Gulf carrier Etihad Airways had inked a deal with Alitalia to invest $2.36 billion in the struggling airline, the companies on Monday offered undisclosed antitrust fixes to help the deal earn the approval of Europe’s antitrust watchdog.
In a U.S. International Trade Commission filing made public on Tuesday, Apple Inc. fought back against a patent holding company’s bid to allow its experts access to thousands of confidential documents describing technical details of nearly every consumer hardware device Apple sells.
Let’s face it: Taking friends or acquaintances to Justin Timberlake concerts or golf at the Ocean Course is not how we as law firm associates are going to develop business. Our primary value comes not from out-of-office networking jaunts but from bearing a laboring oar for our partners. Which is why our best approach to business development is more likely from the inside out, says Jason Idilbi of Moore & Van Allen PLLC.
In a pair of disappointing recent speeches, leading U.S. antitrust enforcers stated that a company's pre-existing compliance program is not a basis for a reduction in punishment for a cartel offense, which stands in stark contrast to the position of other components of the U.S. Department of Justice and recent draft guidance issued by Canada, say Douglas Tween and Arlan Gates of Baker & McKenzie LLP.
The Nevada federal court's recent ruling in Agincourt Gaming LLC v. Zynga Inc. is an important reminder that a nonparty wanting to challenge a civil subpoena should consider carefully the appropriate jurisdiction in which to file a motion to quash under recently enacted Rule 45, say Steven Luxton and Brad Nes of Morgan Lewis & Bockius LLP.
Based on almost 30 years of experience in the defense industry, I do not believe that offset transactions are inherently or frequently corrupt. But with a potentially high Foreign Corrupt Practices Act compliance risk, these projects require thorough risk-based due diligence on the parties involved in them, says Howard Weissman, of counsel with Baker & McKenzie LLP and former associate general counsel at Lockheed Martin Corp.
China’s anti-corruption efforts have historically focused on the Chinese government officials who solicit or receive bribes, but GlaxoSmithKline PLC's recent bribery conviction demonstrates that companies doing business in China must be mindful of China’s own anti-corruption laws in addition to the Foreign Corrupt Practices Act, say Jay Pomerantz and Catherine Kevane of Fenwick & West LLP.
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.