Competition

  • September 29, 2017

    Fed Fines HSBC $175 Million Over Forex Practices

    The Federal Reserve Board on Friday said that it has fined HSBC $175.3 million for failing to properly oversee its foreign currency exchange trading business, the latest fallout from investigations into the alleged rigging of the forex markets by global banks.

  • September 29, 2017

    Chicken Cos. Must Hand Over Fla. AG Docs In Antitrust Suit

    An Illinois magistrate judge on Thursday ordered poultry producers to turn over certain documents related to an investigation by the Florida attorney general’s office in a lawsuit over alleged antitrust and price-index-fixing concerns, but stopped short of requiring expanded disclosure of information and communications with the agency.

  • September 29, 2017

    Consumer's £14B Mastercard Class Action Appeal Denied

    A U.K. competition appeal court on Thursday denied a consumer’s attempts to appeal a decision preventing him from bringing a £14 billion ($18.7 billion) antitrust suit against Mastercard Inc. over credit card swipe fees.

  • September 29, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a slew of asset managers' funds sue a Turkish infrastructure and transportation firm, more competition claims against Visa and a corporate finance advisor lodge a suit against private equity firm Sun European Partners. Here, Law360 looks at those and other new claims in the U.K.

  • September 29, 2017

    Deutsche Bank To Pay $190M In Forex Rigging Deal

    Deutsche Bank AG on Friday agreed to pay $190 million to settle allegations that it rigged foreign exchange rates, making it the latest in a line of global banks that have settled class action claims totaling $2.3 billion to date.

  • September 28, 2017

    Abbott, Alere Settle Watchdogs' Issues With $5.3B Deal

    U.S. and Canadian antitrust regulators revealed Thursday that pharmaceutical giant Abbott Laboratories and diagnostic service provider Alere Inc. have settled the agencies’ concerns over Abbott’s $5.3 billion bid for Alere.

  • September 28, 2017

    Odebrecht Units Say No US Jurisdiction In Bond Fraud Claims

    Two units of Brazilian engineering conglomerate Odebrecht SA told a New York federal judge on Thursday that he should toss fraud claims made against them by a group of hedge funds because the securities were sold on the Luxembourg Stock Exchange and the court therefore lacks subject matter jurisdiction.

  • September 28, 2017

    NJ, Calif. Eyed For MDL Over German Auto Antitrust Cases

    German automakers including BMW AG, Daimler AG and Volkswagen AG and a group of drivers who claim the automakers worked together to choke off automotive technology competition urged the Judicial Panel on Multidistrict Litigation on Thursday to move their cases to New Jersey, while other buyers said California made more sense for an MDL.

  • September 28, 2017

    Justices To Review Judgment Appeal Outside MDL Context

    The U.S. Supreme Court said Thursday it will examine whether the right to appeal a judgment in the face of additional pending claims is available outside of the multidistrict litigation context established by the high court in a 2015 Libor rigging case.

  • September 28, 2017

    Becton Dickinson Offers EU Fixes For Planned $24B Bard Buy

    Becton Dickinson and Co. has offered concessions to the European Union's competition watchdog for its planned $24 billion acquisition of fellow New Jersey-based medical supply company C.R. Bard Inc., according to a Thursday filing.

  • September 28, 2017

    Minor Leaguers Urge High Court To Review Antitrust Case

    Minor league baseball players accusing Major League Baseball of scheming to suppress their wages urged the U.S. Supreme Court to review a Ninth Circuit decision that rejected their claims under a 95-year-old baseball antitrust exemption and, for the first time, to decide whether a related law is unconstitutional.

  • September 28, 2017

    Banks Possibly Face Long Wait For Brexit Transition Terms

    U.K. banks face a longer wait for clarity on a proposed Brexit transition phase after the European Union’s chief negotiator said Thursday it could be “months” before talks advanced that far, warning that more progress needs to be made on the basic terms of the U.K.'s exit from the bloc.

  • September 27, 2017

    Cooperator Draws A Blank On Details In HSBC Forex Trial

    An HSBC banker-turned-cooperator in the trial of a former HSBC executive spent Wednesday getting grilled on cross-examination, repeatedly saying he didn’t remember much about the run-up to a $3.5 billion exchange deal that prosecutors say was used to fraudulently enrich HSBC at the expense of client Cairn Energy PLC.

  • September 27, 2017

    Senate Confirms Allen & Overy Partner For Key Treasury Gig

    The U.S. Senate on Wednesday confirmed an Allen & Overy LLP partner to a key post at the U.S. Department of the Treasury, where he will lead reviews of the acquisitions of American companies by foreign buyers for national security concerns.

  • September 27, 2017

    Norwegian Ocean Shipper To Pay $21M In Price-Fixing Plea

    A Norwegian auto-shipping company will pay $21 million in fines after pleading guilty in Maryland federal court to one count of conspiracy for its involvement in a decadelong price-fixing scheme, the U.S. Department of Justice announced Wednesday.

  • September 27, 2017

    Senate Confirms Trump Pick To Lead DOJ Antitrust Division

    The Senate on Wednesday approved President Donald Trump’s pick to lead the U.S. Department of Justice’s Antitrust Division, Makan Delrahim, filling an important leadership role at the DOJ more than half a year into the president’s tenure.

  • September 27, 2017

    FTC Strikes Deal Over Integra's $1B Offer For J&J Unit

    Integra LifeSciences and Johnson & Johnson have struck a preliminary deal to sell off five neurosurgical medical device product lines to assuage the Federal Trade Commission’s concerns that the New Jersey company’s $1 billion bid to buy Codman Neurosurgery would severely limit competition in neurosurgical device markets, the agency announced Wednesday.

  • September 27, 2017

    DOJ Orders Divestitures In €350M Graphite Electrodes Merger

    The U.S. Department of Justice revealed a settlement Wednesday under which it will allow Japanese chemicals company Showa Denko K.K.’s planned €350 million ($410.9 million) deal for Germany-based SGL Carbon SE’s graphite business to move forward so long as certain U.S. assets are sold.

  • September 27, 2017

    Scania Hit With €880M EU Fine For Role In Truck Cartel

    The European Union’s competition watchdog on Wednesday fined Volkswagen’s Scania AB €880 million ($1.03 billion) for colluding with five other truck manufacturers to fix prices and pass on to consumers the costs of complying with emissions rules, bringing the total fines in the case to a record €3.81 billion.

  • September 26, 2017

    Qualcomm Must Face Chip Antitrust Allegations, Buyers Say

    A group of cellular device purchasers asked a California federal judge Monday to deny Qualcomm Inc.'s bid to dodge multidistrict litigation accusing the company of abusing its dominance in the modem chip market, saying they are allowed to seek redress under federal and state antitrust laws.

Expert Analysis

  • The Soft Power Of Congress To Challenge Mergers

    Daniel Friedman

    While Congress does not have the ability to directly stop a merger, it has virtually unfettered power to engage in fact-finding, and testimony given at congressional hearings can help the merger enforcers in litigation, say Daniel Friedman and Robert LoBue of Patterson Belknap Webb & Tyler LLP.

  • 5 Questions All AFAs Should Answer Clearly

    Gregory Lantier

    While no particular form is required to establish a durable alternative fee arrangement, there are terms that should, for the benefit of both client and outside attorney, be expressly set forth in the agreement itself, but are often overlooked, say attorneys with WilmerHale.

  • Cybersecurity Risks In The Courtroom

    Daniel Garrie

    As cybercriminals continue to look for easy targets, the court system will surely enter their crosshairs. If judges and court personnel do not maintain proper data security and cyber hygiene, confidential litigant information can fall into the hands of a wide variety of bad actors, say Daniel Garrie of JAMS, David Cass of IBM Cloud, Joey Johnson of Premise Health Inc. and Richard Rushing of Motorola Mobility LLC.

  • Monthly Column

    Gray Matters: Clients Are Not Really 'Emotional'

    Gray Matters

    When you look at your client through the "survival circuit" lens, what first appeared as an emotional mess is now valuable information about what is important to them, what needs have to be met to settle the case, or what further clarity your client requires before moving forward, say dispute resolution experts Selina Shultz and Robert Creo.

  • Having A Chief Privacy Officer Reassures Your Firm's Clients

    Rita Heimes

    When a law firm appoints a chief privacy officer, not only does the firm benefit from the crucial operational impact of a well-managed privacy program, but clients see how seriously you take your duties of confidentiality and competence, says Rita Heimes, research director at the International Association of Privacy Professionals.

  • Weekly Column

    Innovating For Wise Juries: Discussions Before Deliberations

    Richard Lorren Jolly

    To be sure, allowing jurors to discuss evidence before final deliberations proved to be among the least popular of our recommended innovations. But empirical evidence belies these fears, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • 2nd Circ. Libor Ruling Won’t Slow Cross-Border Enforcement

    Jason Linder

    Many commentators predict the Second Circuit's Allen decision last week will substantially chill the government's cross-border law enforcement efforts, but the truth is that the government won't have to make major changes to its increasingly robust coordination with foreign law enforcement to avoid similar problems in the future, say Jason Linder and John Long of Irell & Manella LLP.

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, it's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • The Best Documents In Your Case May Be From 3rd Parties

    Wyatt Dowling

    Cases are built on evidence and evidence comes from discovery. But discovery is largely a voluntary process. Serving a document subpoena on a third party can be an efficient and creative way to fill in the gaps that may exist in the productions of opposing parties, says Wyatt Dowling of Yetter Coleman LLP.