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 National Collegiate Athletic Association and major college sports conferences said there is no way to make the commissioner of the America East Conference, who made statements suggesting that paying college athletes might not harm smaller schools, sit for a deposition just days ahead of a trial in an antitrust action challenging limits on college athlete benefits.
Allergan and Shire are trading blows over a recent ruling that kept alive Pfizer’s antitrust suit against Johnson & Johnson over alleged coercion of health insurers, debating whether it lends credence to similar coercion allegations against Allergan.
A California federal court judge on Tuesday tossed a lawsuit filed by a San Francisco Bay Area hospital group that accuses Kaiser Foundation Hospitals Inc. and its insurer of creating a monopoly on health care in the state, finding that the hospital group failed to allege that it’s been harmed by the alleged antitrust violations.
Summer for the mergers and acquisitions world normally signals a slowdown, but bidding wars, megadeals, antitrust lawsuits and regulatory changes have kept dealmakers on their toes even as the season prepares for its unofficial end. Here, Law360 recaps the hottest M&A moments of the summer.
The American Cable Association has warned the Federal Communications Commission that the proposed merger of Gray Television Inc. and Raycom Media Inc. — a $3.65 billion deal that would form one company owning 142 stations in 92 markets — would hurt competition, increase broadcasters’ transmission fees and ultimately raise prices for consumers.
The U.S. Commodity Futures Trading Commission said Wednesday that BNP Paribas will pay a $90 million civil penalty to settle the agency's allegations that the bank attempted to manipulate the ISDAfix benchmark over a roughly five-year period to benefit its derivatives positions.
Sinclair Broadcast Group Inc. hit back against its former merger target on Tuesday, telling the Delaware Chancery Court that Tribune Media Co. walked away from their $3.9 billion megadeal and accusing the Chicago-based broadcaster of trying to cash in on a surprise move by regulators.
A California federal judge has tossed a consolidated putative class action brought by employees who claim LG and Samsung broke antitrust laws by agreeing not to poach each other’s workers, finding that the employees were asking her to make “too big of a leap” by substituting stereotypes about Korean family-owned conglomerates for factual allegations.
The North American Soccer League told a New York federal court Tuesday that it should not have to comply with document requests made by the U.S. Soccer Federation, saying they have no relevance to the case and are unduly burdensome and duplicative.
A Manhattan federal judge has thrown out a proposed consolidated class action accusing major banks including Barclays and Citigroup of conspiring to rig the SSA bond market, finding that the investors behind the suit haven’t plausibly shown that they were injured by the banks’ alleged collusion.
South Africa’s competition enforcement agency said Wednesday that it is investigating a book publishing association and its members over allegations that they fixed the prices of certain textbooks for decades.
BJ’s wholesale club alleged Tyson, Perdue and other chicken producers inflated broiler chicken prices and overcharged consumers by over $3 billion per year over an eight-year period, according to a complaint filed Tuesday in Illinois federal court.
Consumer advocates and rural broadcast groups filed a bevy of petitions Monday urging the Federal Communications Commission to block Sprint's planned $59 billion merger with T-Mobile, with most warning of a severe decrease in competition among national wireless carriers and the creation of an "oligopoly."
The Third Circuit on Tuesday reinstated a suit brought by heart monitoring device maker LifeWatch Services Inc. over allegations Blue Cross Blue Shield and several of its associated health plans conspired to deny patients insurance coverage for certain LifeWatch products.
The fact that student-athletes are not paid is what makes college sports unique, the National Collegiate Athletic Association said Monday in the opening statement for a class action antitrust bench trial in California federal court challenging the NCAA’s amateurism system.
Investors who reached $340 million in settlements earlier this year with Deutsche Bank and HSBC in multidistrict litigation over alleged manipulation of the London Interbank Offered Rate have asked a New York federal judge to award nearly $63.4 million in fees and expenses for their counsel, Susman Godfrey LLP and Hausfeld LLP.
The Eighth Circuit on Tuesday tossed challenges to the Federal Communications Commission’s deregulation of business data services, ruling that the commission was justified in setting a test to parse whether a particular market is competitive but finding the FCC glossed over one detail it must revisit.
A Florida federal judge on Tuesday dismissed an antitrust claim from Sentry Data Systems Inc. alleging CVS is unlawfully forcing health care providers to use its 340B Drug Pricing Program administrator Wellpartner LLC, but left intact allegations the pharmacy giant misappropriated trade secrets to steal customers.
Two House Democrats sent a letter to Federal Communications Commission Chairman Ajit Pai on Monday, urging the commission’s Chief Administrative Law Judge to investigate whether Sinclair Broadcast Group Inc. lied to the FCC when it attempted to acquire the Tribune Media Company.
FBI veteran Lisa Osofsky took up her five-year term as director of Britain’s Serious Fraud Office a week early on Monday, getting a head start as the agency gears up for a number of high-profile white collar cases. Here, Law360 outlines the three key upcoming prosecutions that will be at the top of her to-do list.
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.
With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.
Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.
Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.
The U.S. Supreme Court's holding in Animal Science v. Hebei that a U.S. court is not bound by a foreign government's interpretation of its own laws is likely to have a lasting impact on legal decision-makers across the globe as they make determinations about deference to foreign laws, including U.S. laws, say attorneys at Alston & Bird LLP.
I found that senior members of Congress didn’t have time to mentor younger members. Lawyers — though just as busy as members of Congress — cannot afford to follow this model, says former Rep. Charles Gonzalez, D-Texas, of Ogletree Deakins Nash Smoak & Stewart PC.
Modern information technology, intelligent algorithms and production robots are strongly influencing the working world in the 21st century. This article, by attorneys at CMS Francis Lefebvre, provides an overview of the future labor market as well as the impact of artificial intelligence on labor law and tax issues.
Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.
It has been widely reported that lawyers representing Colin Kaepernick in collective bargaining arbitration proceedings with the NFL may ask the arbitrator to compel President Donald Trump to appear for deposition. The case presents interesting issues about the power of an arbitrator to compel testimony of a nonparty, say attorneys with White and Williams LLP.