Demanding Antitrust Side-Letter Disclosure

Law360, New York (April 12, 2011, 12:01 PM EDT) -- Signaling possible future enforcement efforts, Antitrust Division Chief Christine Varney recently brought to the foreground the vexing question of including antitrust side-letters in Hart-Scott-Rodino filings — “You execute [a side-letter] and you don’t give it to us, do it at your own peril, because we will likely find out about it.”

Most parties don’t tell opposing counsel at the start of negotiations the most they are secretly willing to pay to settle a case. Doing so would hardly be considered sound negotiation strategy. Yet this is...
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