Sherman Antitrust Act

FTC and DOJ File Statement of Interest in Hotel Room Algorithmic Price-Fixing Case

Retrieved on: 
Tuesday, April 2, 2024
Caesars Entertainment, Risk, Commission, Sherman Antitrust Act, Algorithm, Meat, Social media, Blog, News, Justice, Federal Trade Commission, FTC

The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.

Key Points: 
  • The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.
  • The agencies recently filed a statement of interest in an algorithmic price-fixing case in the residential housing market, and the Justice Department’s Antitrust Division filed a statement of interest and memorandum of law in another real estate algorithmic price-fixing case last year.
  • The Commission vote approving the filing of the statement of interest was 3-0-1, with Commissioner Holyoak not participating.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

FTC and DOJ File Statement of Interest in Hotel Room Algorithmic Price-Fixing Case

Retrieved on: 
Tuesday, April 2, 2024
Caesars Entertainment, Risk, Commission, Sherman Antitrust Act, Algorithm, Meat, Social media, Blog, News, Justice, Federal Trade Commission, FTC

The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.

Key Points: 
  • The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.
  • The agencies recently filed a statement of interest in an algorithmic price-fixing case in the residential housing market, and the Justice Department’s Antitrust Division filed a statement of interest and memorandum of law in another real estate algorithmic price-fixing case last year.
  • The Commission vote approving the filing of the statement of interest was 3-0-1, with Commissioner Holyoak not participating.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

Verra Mobility Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 29, 2024
Sherman Antitrust Act, ASR, Investment, Share repurchase, Common stock, Growth, Language, Exercise, Government, District court, Adjustment, University, Safety, ATS, Software as a service, The Gores Group, EPS, Travel, Software, Security (finance)

MESA, Ariz., Feb. 29, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • MESA, Ariz., Feb. 29, 2024 /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today the financial results for the fourth quarter and full year ended December 31, 2023.
  • "We delivered fantastic results for the fourth quarter, highlighted by robust revenue and Adjusted EBITDA performance," said David Roberts, President and CEO, Verra Mobility.
  • Revenue: Total revenue for the fourth quarter of 2023 was $211.0 million, an increase of 13% compared to $186.1 million for the fourth quarter of 2022.
  • Adjusted Earnings Per Share (EPS): Adjusted EPS for the fourth quarter of 2023 was $0.24 per share compared to $0.25 per share for the fourth quarter of 2022.

Axinn Promotes James Hunsberger, Kail Jethmalani, and David Pearl to Partner, Carol Liu to Counsel

Retrieved on: 
Tuesday, January 2, 2024
Legal, Professional Services, Federal Trade Commission, Senior counsel, Presidency of Barack Obama, American Bar Association, Justice, Sherman Antitrust Act, Consumer protection, Treasury, Lawyer, Insurance, Food, History

Axinn, Veltrop & Harkrider announced today that it has promoted James Hunsberger, Kail Jethmalani, and David Pearl to partner, and Carol Liu to counsel, effective January 1, 2024.

Key Points: 
  • Axinn, Veltrop & Harkrider announced today that it has promoted James Hunsberger, Kail Jethmalani, and David Pearl to partner, and Carol Liu to counsel, effective January 1, 2024.
  • Kail Jethmalani , based in Axinn’s New York office, represents clients across industries in all areas of antitrust law, including high-stakes litigation, mergers, and investigations.
  • David Pearl , based in Axinn’s Washington, D.C. office, has extensive experience with all aspects of antitrust law, including litigation, merger review, government investigations, and counseling.
  • Carol Liu , based in Axinn’s New York office, represents clients in all aspects of antitrust law, including mergers, high-stakes litigation, government investigations, and antitrust counseling.

Lowey Dannenberg, P.C., Scott+Scott Attorneys at Law LLP, DiCello Levitt LLP and Berman Tabacco Announce Notice of Proposed Settlements in European Government Bond Class Action

Retrieved on: 
Tuesday, September 5, 2023
Clayton Antitrust Act of 1914, Defendant, Tax, Sherman Antitrust Act, Hearing, UniCredit, JPMorgan Chase, Deutsche Bank, State Street, Settlement, Court, Tobacco, Insurance, Plaintiff, Natixis, Rabobank

If you are not sure if you are included in the Settlement Class, you can get more information, by visiting www.EuropeanGovernmentBondsSettlement.com or by calling toll-free 1-877-883-7336.

Key Points: 
  • If you are not sure if you are included in the Settlement Class, you can get more information, by visiting www.EuropeanGovernmentBondsSettlement.com or by calling toll-free 1-877-883-7336.
  • Plaintiffs allege that Defendants, including UniCredit, Natixis, JPMorgan, and State Street, conspired to fix the prices of European Government Bonds in the primary and/or secondary markets.
  • In the secondary market, Plaintiffs allege that Defendants, in control of the supply of newly issued European Government Bonds, agreed to fix bid-ask spreads.
  • This includes, Plaintiffs allege, agreeing on higher prices to charge investors for European Government Bonds.

Preventing Pharmaceutical Price-Gouging: MSP Recovery Claims Proceed to Class Certification Against One of the Largest U.S. Pharmacy Benefit Managers in “Infamous” Case

Retrieved on: 
Wednesday, August 9, 2023
Legal, Parenting, Children, Baby, Maternity, Professional Services, Health, Consumer, Pharmaceutical, General Health, Clayton Antitrust Act of 1914, Sherman Antitrust Act, Spasm, Plaintiff, Pharmacy, 13th (Western) Division, MSP, Martin PBM Mariner, Hon, District court, Express Scripts, Complaint, Court, FDA, ACTH, Douglas v. U.S. District Court ex rel Talk America, Express, Pharmaceutical industry, Mallinckrodt, Adrenocorticotropic hormone (medication)

The court denied Defendants Express Scripts, Inc. et al.’s (“Express Scripts”) motion to dismiss allowing the Plaintiffs to proceed to class certification.

Key Points: 
  • The court denied Defendants Express Scripts, Inc. et al.’s (“Express Scripts”) motion to dismiss allowing the Plaintiffs to proceed to class certification.
  • Acthar’s manufacturer, Mallinckrodt, acquired the product in 2001 when Acthar sold for $40.00 per vial.
  • John H. Ruiz, CEO and Founder of MSP Recovery Inc. d/b/a LifeWallet (NASDAQ: LIFW), stated: “This is price-gouging, plain and simple.
  • No one should be forced to pay $39,000 per vial for the life-saving medicine on the market.

If you had any interest in Swiss Franc LIBOR-Based Derivatives during the period of January 1, 2001 through December 31, 2011, your rights may be affected by pending class action settlements, and you may be entitled to a portion of the settlement fund

Retrieved on: 
Friday, June 16, 2023
N. K. Singh, Class, Person, Tax, History of the United States government, Lawyer, TP, Racketeer Influenced and Corrupt Organizations Act, Credit Suisse, District court, Notice, RBS, UBS, Clayton Antitrust Act of 1914, Royal Bank of Scotland plc v Etridge (No 2), Tobacco Master Settlement Agreement, Chicago, Deutsche Bank, Government, Boston Options Exchange, Hearing, Sherman Antitrust Act, TP ICAP, JPMorgan Chase, Commodity Exchange Act, LIBOR, Panayiotou v. Sony Music Entertainment (UK) Ltd., London International Financial Futures and Options Exchange, Clerk, Royal Bank, Settlement, ICAP, Chicago Mercantile Exchange, Counsel, NEX Group, CME, UBS AG, Fairness, Pearl Street, London Interbank Bid Rate, Action, Security (finance), Tobacco, Insurance, Road transport, Court, Limited, Defendant

"Swiss Franc LIBOR-Based Derivatives" means: (i) a three-month Euro Swiss franc futures contract on the London International Financial Futures and Options Exchange ("LIFFE") entered into by a U.S.

Key Points: 
  • "Swiss Franc LIBOR-Based Derivatives" means: (i) a three-month Euro Swiss franc futures contract on the London International Financial Futures and Options Exchange ("LIFFE") entered into by a U.S.
  • Person, or by a Person from or through a location within the U.S.; (v) a Swiss franc currency forward agreement entered into by a U.S.
  • Person, or by a Person from or through a location within the U.S.
    "Swiss franc LIBOR" means the London Interbank Offered Rate for the Swiss franc.
  • For more information, call toll-free 1-855-914-4639 (if calling from outside the United States or Canada, call 1-503-994-1396) or visit www.swissfrancliborclassactionsettlement.com .

Realtek Files Lawsuit Against MediaTek, IPValue, and Future Link Systems Alleging Unfair Competition

Retrieved on: 
Tuesday, June 6, 2023
Professional Services, Semiconductor, IOT (Internet of Things), Technology, Legal, Mobile, Wireless, Internet, Sherman Antitrust Act, MediaTek, Patent, Realtek, Multimedia, Engineered wood

Realtek Semiconductor Corporation, a global leader in integrated circuits, filed a federal U.S. lawsuit today in the Northern District of California against MediaTek Inc., Future Link Systems LLC, and Future Link’s parent company IPValue Management.

Key Points: 
  • Realtek Semiconductor Corporation, a global leader in integrated circuits, filed a federal U.S. lawsuit today in the Northern District of California against MediaTek Inc., Future Link Systems LLC, and Future Link’s parent company IPValue Management.
  • The complaint alleges that patent assertion entities (PAEs) Future Link and IPValue conspired with MediaTek and violated the federal Sherman Act and California’s Unfair Competition Law by entering into an illicit “bounty” agreement incentivizing Future Link to improperly sue Realtek.
  • By filing this lawsuit, Realtek aims to help prevent further harm to the public, hold defendants accountable for the impact of what Realtek’s complaint asserts to be anticompetitive and unfair behavior, and protect free and fair competition in the industry.
  • View the full release here: https://www.businesswire.com/news/home/20230605005792/en/

Spring Meeting updates

Retrieved on: 
Wednesday, May 31, 2023
Clayton Antitrust Act of 1914, Review, Sherman Antitrust Act, HSR, Fed, Industry, Agency, Turning Point 2, Meta, File, Robinson–Patman Act, Spring Meeting, Commission, Farmer, PNO, Federal Trade Commission Act of 1914, Hart–Scott–Rodino Antitrust Improvements Act, Certification, Time, FTC, Second request, Item, Virtual reality, Compliance, Growth, Policy, Letter, Section 7 of the Canadian Charter of Rights and Freedoms, Insurance, Real estate, Bureau

Spring Meeting updates

Key Points: 

Spring Meeting updates

Lowey Dannenberg, P.C. and Lovell Stewart Halebian Jacobson LLP Announce a Settlement for Those Who Have Transacted in Euribor Products Between June 1, 2005 and March 31, 2011

Retrieved on: 
Thursday, May 18, 2023
Class, Vexatious litigation, PKC, Lawyer, Racketeer Influenced and Corrupt Organizations Act, District court, Notice, Court, Tobacco Master Settlement Agreement, Chase Bank, Barclays, London International Financial Futures and Options Exchange, NYSE, Clayton Antitrust Act of 1914, Defendant, P.C, Barclays Capital Inc. v. Theflyonthewall.com, Inc., Deutsche Bank, Episcopal conference, Citibank, Claim, Sherman Antitrust Act, HSBC, HSBC Bank, NOT, JPMorgan Chase, Citigroup, Commodity Exchange Act, Panayiotou v. Sony Music Entertainment (UK) Ltd., HSBC (United Kingdom), Chicago Mercantile Exchange, CME, New York Stock Exchange, Thomson Reuters, Plaintiff, Negotiation, Person, Summons, Insurance, Security (finance), Generic drug, Pharmaceutical industry, Euribor, Settlement

The Settlement provides a total of $105 million to pay claims from persons who transacted in Euribor Products during the Class Period.

Key Points: 
  • The Settlement provides a total of $105 million to pay claims from persons who transacted in Euribor Products during the Class Period.
  • You can also choose to exclude yourself from the Settlement, or object to the Settlement.
  • Before any money is paid, the Court will hold a Settlement Hearing to decide whether to approve the Settlement.
  • These payments will also be deducted from the Settlement Fund before any distributions are made to the Settlement Class.