A bombshell lawsuit lodged by Tribune Media Co. earlier this month sheds some light on the collapse of its $3.9 billion deal with Sinclair Broadcast Group Inc., a move that fell apart in the face of scrutiny from enforcers and regulators. And while much is still unknown about the ordeal, it provides some insight into how the agencies might approach similar moves in the future and how merging parties should respond.
The University of Wisconsin-Madison could drop its athletics program if it has to start paying student-athletes, the head of the university told a federal judge Monday at a landmark antitrust trial over the NCAA's limits on compensation, while an American Athletic Conference commissioner warned that such payments "would intrude on college sports."
A former executive of bankrupt Transmar Commodity Group Ltd. on Monday was sentenced to two and a half years in prison by U.S. District Judge Jed Rakoff for a “massive” $350 million asset fraud at the family-run cocoa commodity trading company.
The U.S. Department of Justice cleared Cigna Corp.'s planned $67 billion purchase of pharmacy benefits manager Express Scripts Inc. on Monday without any conditions, five months after requesting additional information from the companies about the deal.
Three Japanese manufacturers wrapped up in multidistrict litigation alleging they conspired to hike prices on automobile heater control panels have agreed to pay $5.7 million to escape automakers’ claims, according to a filing in Michigan federal court.
A major cooperative food wholesaler will have to litigate its price-fixing allegations against Tyson, Perdue and several other broiler chicken producers alongside the roughly 20 other lawsuits currently pending against the companies in Illinois after a federal judge agreed to allow the defendants to fly the Kansas coop.
Buyers of the leukemia drug Gleevec urged a First Circuit panel on Friday to rehear its decision affirming the dismissal of a proposed class action accusing Novartis of using sham litigation to extend a monopoly over the medication, arguing the ruling went against “black-letter patent law.”
Homeland Insurance Co. of New York asked an Illinois federal judge to find the company not liable for antitrust claims against Health Care Service Corp. centralized in multidistrict litigation, arguing that a prior suit over similar claims means no coverage for the new ones.
AMC reached a settlement agreement with a Houston theater claiming the chain illegally blocked its access to first-run films, bringing an end to the antitrust suit days before a trial was set to commence in Texas federal court.
Teva Pharmaceutical Industries Ltd. has urged a Connecticut federal judge to let it escape a proposed class action accusing it of engaging in a price-hike scheme, saying it isn't unlawful to have a plan to increase product prices when the opportunity presents itself in the market.
The U.S. Commodity Futures Trading Commission on Friday asked an Illinois federal court for a quick win on two claims in its suit against Kraft Foods Group Inc. alleging that the food conglomerate manipulated the price of wheat commodities and futures.
The Ninth Circuit on Friday refused to revisit a recent decision reviving the U.S. Chamber of Commerce's antitrust challenge to a Seattle ordinance letting app-based, ride-hailing drivers bargain collectively, rejecting the city’s petition for a rehearing before the full appeals court.
The last week has seen Denmark's tax authority file another fraud suit against more investment firms, insurance giants like Amlin and Axa sue a seafood distributor, and a bid to appeal a decision from former shareholders of a business in RBS' controversial restructuring unit. Here, Law360 looks at those and other new claims in the U.K.
A pair of Taiwanese parts suppliers urged a Wisconsin federal judge Thursday to decertify two groups of aftermarket sheet metal parts purchasers seeking damages to close out price-fixing allegations where every other defendant has settled, with the suppliers arguing the buyers’ damages claims must be handled individually.
In this week’s Taxation with Representation, Renesas Electronics bought Integrated Device Technology Inc. for $6.7 billion, the Carlyle Group snapped up Sedgwick Claims Management Services for $6.7 billion, a consortium of buyers took over MPM Holdings, and Science Applications International Corp. acquired Engility Holdings for $2.5 billion.
Japanese pharmaceutical giant Takeda announced Friday that Chinese regulators have given their “unconditional clearance” for a planned £46 billion ($60 billion) acquisition of Dublin's Shire, the rare disease-focused drugmaker.
Federal Trade Commission attorneys looking to revive a pay-for-delay case over the opioid pain medication Opana ER told the commission that the central issue in the appeal is that generics maker Impax can't tie the payment it received from Endo Pharmaceuticals Inc. to its broader settlement agreement.
The AT&T-Time Warner merger will free HBO to spend more cash on producing risky, high-budget TV shows, the company’s CEO told an audience in Los Angeles on Friday. The efforts lend credence, he said, to courtroom arguments that the deal will pay off for consumers in the form of investments in content instead of stifling competition with the vertical integration.
The Financial Conduct Authority said Friday it has banned a former Deutsche Bank AG derivative trader currently serving time in jail from any role in the U.K. financial services industry for his part in plotting to rig a key interest rate benchmark.
AT&T plans to make clips from "premium" TV shows and movies easier to share over mobile phones and to add other cellphone-friendly features now that it owns Time Warner's entertainment library with crown jewels including HBO, AT&T executive David Christopher told an audience on Thursday.
The Federal Trade Commission kicked off its series of hearings Thursday aimed at assessing current enforcement policies in light of evolving technology and market conditions, with Chairman Joseph Simons saying the conversation has been brought about by concerns over corporate consolidation and calls for expanding the issues addressed by antitrust law.
The Serious Fraud Office has landed another mixed result in its prosecution of several former Barclays and Deutsche Bank traders for manipulating Euribor, the latest in the white collar specialist's latest effort to hold individuals accountable for rigging key benchmark interest rates. Here, Law360 looks at the highlights of the SFO's long-running campaign.
A D.C. federal judge has rejected the U.S. Department of Justice’s arguments that AT&T’s planned purchase of Time Warner would hurt competition and drive up consumer costs, dealing a major blow to the government’s first court challenge of a vertical merger in decades. Here, Law360 looks at how we got here, the key issues and highlights of the case.
The latest ABA annual antitrust law spring meeting ran the gamut from the government's tough new take on no-poaching pacts to hurdles innovation can cause in merger reviews— plus wide-ranging comments from the DOJ's new antitrust chief. Here's a look at Law360's coverage of three days of debates, tips and quips.
The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.
The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.
In June, the U.S. Supreme Court issued a pivotal antitrust decision in Ohio v. American Express. Three partners at Cravath Swaine & Moore LLP who represented AmEx explain how one of the most significant antitrust enforcement actions in recent history led to a landmark precedent for two-sided platforms.
On Thursday, the Federal Trade Commission began a series of hearings on competition and consumer protection in the 21st century. These events are an important first step in guiding enforcement priorities, says David Balto, a former policy director of the FTC Bureau of Competition.
In Sheppard Mullin v. J-M Manufacturing Co., the California Supreme Court ruled last month that a law firm's failure to disclose a known conflict with another current client did not categorically disentitle the firm from recovering fees. But the court didn’t provide hoped-for guidance on how to write an enforceable advance conflict waiver, says Richard Rosensweig of Goulston & Storrs PC.
The English Court of Appeal's much-anticipated decision in Eurasian Natural Resources Corporation means that companies will continue to face difficulties in obtaining the information they need to investigate suspected wrongdoing, without losing the benefit of legal advice privilege under English law, say Mark Beeley and Rebecca Dipple of Orrick Herrington & Sutcliffe LLP.
Tighter rules for the Committee on Foreign Investment in the United States have been echoed in Germany, and further changes are on the way. Recent developments show that the German government does not shy away from blocking foreign investments, says Daniel Wiedmann of P+P Pöllath + Partners.
In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.
As lower courts decide whether to apply the U.S. Supreme Court's AmEx decision to other types of two-sided markets, the key question will be whether allegedly anti-competitive conduct on one side of a platform may be credibly constrained by indirect network effects on the other, say Barry Reingold and David Chiappetta of Perkins Coie LLP.
A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.