FTC Obtains TRO To Halt DraftKings, FanDuel Merger
By Melissa Daniels (June 21, 2017, 10:40 PM EDT) -- The Federal Trade Commission secured a temporary restraining order against the proposed merger between DraftKings Inc. and FanDuel Inc. on Tuesday after raising concerns about the deal's potential to create a "near-monopoly."
U.S. District Judge Ketanji Brown Jackson ordered the companies to avoid consummating the merger until after the court rules on the FTC's motion for a preliminary injunction. The companies stipulated to the TRO on Monday, according to court records.
The FTC, in announcing its challenge, said the proposed combined company would control more than 90 percent of the market for paid daily fantasy sports contests, where contestants compete for prizes...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!