The growing discontent between Anthem and Cigna hit a boiling point this week, with the health insurance giants trading shots in Delaware Chancery Court after Cigna attempted to end their $54 billion deal following the Justice Department's successful bid to block the combination, despite Anthem's ongoing appeal. Here, Law360 breaks down the litigation and the events leading up to it.
Comcast Corp. on Wednesday won its bid to dodge the bulk of a lawsuit accusing it of monopolizing the $5.4 billion market for local television advertising when an Illinois federal judge ruled that five claims in the case fail because Comcast's motives could not be proven as anti-competitive.
A pair of merchant trade groups asked the Supreme Court on Tuesday to refuse to hear the appeal of retailers seeking to reinstate a $7.25 billion antitrust settlement with Visa and MasterCard over interchange fees that was shot down by the Second Circuit, calling the deal an “enormously unpopular and worthless mandatory settlement.”
Union Pacific and BNSF asked a D.C. federal court Wednesday to force William Koch, CEO of Oxbow Carbon & Minerals LLC, to produce documents that the railway companies claim will undermine key allegations made by Oxbow in its price-fixing suit against them.
The District of Columbia federal judge who preliminarily enjoined Anthem and Cigna’s proposed $54 billion merger on Tuesday released the redacted opinion detailing her decision. Here, Law360 shares three insights gleaned by experts from U.S. District Judge Amy B. Jackson’s analysis.
US Airways has asked a New York federal judge for a judgment sealing its recent win and $15 million verdict against trip-planning giant Sabre in an antitrust dispute after a jury found that Sabre restrained trade by forcing unfavorable contract terms on US Airways.
The competition authority in Spain released a report Tuesday on proposed reforms to the nation’s patent laws, calling for simplified application procedures and streamlined rates.
Fairway Energy Partners LLC alleged in an antitrust lawsuit filed Tuesday in Texas state court that Magellan Midstream Partners is stifling competition by blocking Fairway from access to its Houston crude oil distribution system, or demanding “exorbitant fees” for access, essentially eliminating competition.
Sainsbury’s Supermarkets Ltd. soldiered on in a London court on Wednesday as the last remaining claimant in an antitrust case against Visa Inc. seeking damages over swipe fees, following a series of recent out-of-court settlements between the credit card company and the other 14 retailers in the original claim.
Qualcomm has appealed a roughly $905 million fine from South Korea's antitrust watchdog over its patent licensing practices and sought to put the penalty on hold as it fights a multijurisdictional battle over the way it uses its intellectual property.
Indivior Inc. asked a Pennsylvania federal judge on Tuesday to toss a case alleging it delayed the introduction of a competitor to Suboxone, saying the 35 states that brought the suit failed to allege how a new formula of the original drug prevented generics from succeeding in the market.
Computer chipmaker Qualcomm Inc. has urged the U.S. Judicial Panel on Multidistrict Litigation to consolidate 24 antitrust lawsuits in the Southern District of California that allege the company fixed the price of microchips used in cellphones made by Apple Inc. and others.
Baxter International Inc. and Hospira Inc. have each asked an Illinois federal court to dismiss an Alabama health care provider’s proposed antitrust class action alleging they conspired to fix the price of intravenous saline solution by using recalls to stage a shortage, with the former calling the allegations “pure fantasy.”
Former Barclays PLC trader Jay Merchant has had his sentence for rigging a key global interest rate benchmark reduced by 12 months, to five and a half years, in a Wednesday ruling by the London-based Court of Appeal.
A New York federal judge on Tuesday trimmed a putative class action brought by investors who say they lost money in derivatives transactions because big banks conspired to manipulate Euribor, the euro interbank offered rate. But two plaintiffs, including a California retirement fund, still have claims against JPMorgan and Citigroup.
Purchasers of the Lidoderm pain patch won class certification in an antitrust multidistrict litigation against Endo Pharmaceuticals and others on Tuesday when a California federal judge found that both direct purchasers and end-payors proved common injuries with alleged delays of a generic version of the drug.
A North Carolina federal judge on Monday threw out a former doctor’s antitrust suit against the state medical board and its members alleging they conspired to get him out of the Lyme disease treatment market, ruling that they’re immune from such a suit.
Citibank will pay about $5.3 million to settle with South Africa’s Competition Commission after it was accused of colluding with 15 other banks to rig prices in currency trading involving the rand and U.S. dollar as part of the so-called foreign exchange trading cartel, the commission said Tuesday.
A former Japanese yen derivatives trader for Dutch lender Rabobank, who was the first to plead guilty to participating in a conspiracy to manipulate the yen London Interbank Offered Rate, asked a Manhattan federal judge on Tuesday for a noncustodial sentence due to his “superlative” cooperation.
Broadband providers are inappropriately seeking to evade stepped-up transparency rules under an exemption meant for small providers, an open internet advocacy organization warned the Federal Communications Commission in a filing made public Friday, saying that their request for broad relief for all providers would effectively kill the rules.
Anthem Inc.'s argument that its now on-the-rocks $54 billion merger with Cigna Corp. would generate some $2 billion in savings was not supported by the record and could not salvage the deal, according to a redacted opinion released Tuesday by the D.C. federal judge who blocked the transaction.
Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.
In a recent settlement with the Federal Energy Regulatory Commission, energy supplier GDF Suez paid the largest penalty levied by the agency in almost four years. This reflects FERC’s pursuit of “gaming” of wholesale electric markets through strategies that technically comply with rules, but are allegedly inconsistent with their purpose, say David Applebaum and Todd Brecher of Akin Gump Strauss Hauer & Feld LLP.
A recent Federal Trade Commission study concludes that merger remedies generally have been successful, with “failures” representing only 17 percent of the 50 remedy orders considered. Interpreting this finding requires an understanding of the methodology used in the FTC’s study, and its benefits and limitations, says Steven Tenn, a former FTC economist now with Charles River Associates.
Last month, the Washington state Senate introduced a bill that would amend its anti-rebate and inducement laws to allow insurers to offer free goods and services. Supporters argue that Washington is the only state in the country to force consumers to pay for technology that is free everywhere else, while opponents have expressed concern for fair competition, say Shawn Hanson and Crystal Roberts of Akin Gump Strauss Hauer & Feld LLP.
Fred Korematsu’s U.S. Supreme Court case challenging President Franklin Roosevelt’s executive order that led to the incarceration of approximately 120,000 people of Japanese ancestry may sound like ancient history. However, Feb. 19 marks the 75th anniversary of the order's signing, and that it’s celebrating its diamond anniversary now is breathtaking timing, says Randy Maniloff of White and Williams LLP.
Corporate guilty pleas can be expected to have serious implications for the individual executives and employees alleged to have been involved in the conduct under scrutiny. But whether their corporate employer pleads guilty or pursues an alternative resolution, there are other factors at play that can make a bigger difference to the eventual outcome for individuals, say Jessica Nall and Janice Reicher of Farella Braun & Martel LLP.
General counsels face the challenging task of understanding how companies can navigate the rules surrounding uses of artificial intelligence. To get smart on AI, general counsels must ask the right questions about areas such as human resources, intellectual property, liability and insurance, say Bruce Heiman and Elana Reman of K&L Gates LLP.
Though the Trump administration has yet to make an official statement regarding artificial intelligence, support for AI is consistent with its expressed desire to promote American business. As such, general counsel will inevitably have to navigate what big data and AI mean for compliance with current and future laws and regulations, say Bruce Heiman and Elana Reman of K&L Gates LLP.
It is not unreasonable to fear a possible investigation by the U.S. Department of Justice regardless of the nationality, location or business of a company or individual. The DOJ not only has the determination and resources to pursue white collar cases worldwide, but it has the benefit of increasing international cooperation, says Lara Kroop Delamarre of Cohen & Gresser LLP.
A review of last year's regulatory orders approving bank mergers reveals common themes. For example, compliance history remained an essential element of the regulatory analysis for buyers of all sizes, and fair lending was one of the hottest compliance issues in connection with the merger approval process, say attorneys with Arnold & Porter Kaye Scholer LLP.