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The FTC and DOJ's New Guidelines Promise Sharper Scrutiny of Mergers
Following months of anticipation, the Federal Trade Commission (FTC) and Antitrust Division of the Department of Justice (DOJ) unveiled their new Merger Guidelines (the Guidelines) on Dec. 18, 2023. More than 30,000 stakeholders offered input on proposed changes to the Guidelines, which were previously updated in 2010. While the agencies made some modifications in response to public comment, the core elements of the final Guidelines are consistent with the draft version released in July 2023.
Promising sharper scrutiny of mergers and acquisitions, the new Guidelines formalize the Biden administration's interventionist approach to enforcement and represent the culmination of its efforts to revamp antitrust policy. Indeed, the theme of modernization pervaded the agencies' remarks upon release — FTC Chair Lina Khan declared that the Guidelines "reflect the new realities of how firms do business in the modern economy," while Attorney General Merrick Garland asserted that they protect Americans from "the ways in which unlawful, anticompetitive practices manifest themselves in our modern economy" (Press Release, Federal Trade Commission, "Federal Trade Commission and Justice Department Release 2023 Merger Guidelines" (Dec. 18, 2023)). From loosened structural presumptions to unconventional theories of harm such as "ecosystem competition" to consideration of a merger's effects on outside markets, we review some of the most noteworthy changes in the new Guidelines.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
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Blockchain Domains: New Developments for Brand Owners
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Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.