At a glance The Competition and Markets Authority (CMA) has recently taken action against companies that have not complied with market investigation orders and undertakings across a range of industries. The CMA appears to be more actively enforcing against breaches of market investigation orders and undertakings – the remedies imposed by the CMA to address adverse … Continue Reading
When COVID-19 swept the globe and disrupted the production and distribution of goods, it gave way to some companies taking advantage of consumers by significantly increasing prices. As governments across the world have started taking action against unfair or excessive prices, we examine the global enforcement trends in this space and offer practical advice to … Continue Reading
At a glance First formal action against price gouging in the UK Case will be a test of the fitness of the current legal framework to tackle price gouging Approach to establishing dominance and excessive pricing in the COVID-19 context will impact future enforcement in the UK and possibly in other jurisdictions Amongst the initial … Continue Reading
As businesses continue to deal with the repercussions of extended lockdowns, the U.S. government is on the lookout for enterprises that may use the pandemic as a cover to pursue anticompetitive endeavors. In April, Sen. Elizabeth Warren (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY) introduced the Pandemic Anti-Monopoly Act (the Proposed Act) with the aim of … Continue Reading
The German Federal Ministry for Economic Affairs and Energy implemented further amendments to the Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung – AWV) due to the COVID-19 pandemic to prevent the buyout of German companies active in the health care and infection protection sectors by investors from outside the EU (or EFTA). The amendment entered into … Continue Reading
Earlier this month, the UK Competition and Markets Authority announced that it has prohibited the completed acquisition by JD Sports of Footasylum. We take a detailed look at the case and consider what the CMA’s third prohibition decision of the year signals for future merger activity in the UK. Read the full client alert here. … Continue Reading
On 14 May 2020, the German Parliament adopted temporary amendments to the Act against Restraints of Competition (ARC) to mitigate consequences resulting from COVID-19 in the field of competition law. See BT-Drucksache 19/18963. In order to enable the Federal Cartel Office (FCO) to continue investigating mergers and their impact on the market concerned under the … Continue Reading
With COVID-19 sweeping across the globe, competition law authorities and legislative bodies across the world are having to act quickly and flexibly to minimise disruption while ensuring business compliance and consumer protection. In our recent client alert, we take a look at how COVID-19 is shaping the competition landscape from a multi-jurisdictional perspective, honing in … Continue Reading
On March 5, 2020, contact lens distributor 1-800 Contacts presented arguments to the U.S. Court of Appeals for the Second Circuit appealing to overturn judgment for alleged antitrust violations relating to agreements with competitors on advertising keywords. Reed Smith attorneys have been following this case closely for years and have provided insights on its developments. … Continue Reading
On February 5, 2020, Assistant Attorney General Makan Delrahim spoke at the Media Institute on the current merger review landscape (see Makan Delrahim, “Getting Better: Progress and Remaining Challenges in Merger Review”). While he celebrated an administrative success, he also forewarned of a formidable obstacle to effective agency enforcement. Delrahim remarked that since the Antitrust … Continue Reading
ICAP’s successful appeal against the EU Commission’s €14.96 million fine for facilitating banks in influencing the LIBOR/TIBOR rates is hugely significant and signals a significant set back for the EU competition authority. The case was complicated and unusual from the start, the European Court of Justice clarified the level of detail required in a decision … Continue Reading
On 19 June 2019, our Paris office organized a client seminar on the topic: “Insight into competition and regulatory authorities’ investigations in France”. Our Paris competition partners Natasha Tardif and Marc Lévy spoke alongside in-house counsel Amandine Jacquemot, senior legal advisor at EDF, before a fully packed room composed of Paris contacts and clients. Natasha … Continue Reading
The recently proposed Sainsbury’s/Asda merger would have combined the second- and third-largest UK supermarkets. The merger would also have created the largest retailer of fuel by volume in the UK. The UK Competition and Markets Authority (CMA) decided to step in and concluded that the prohibition of the merger was the only way to go. Most … Continue Reading
California Governor Gavin Newsom recently signed an Executive Order to allow state agencies to join together and negotiate the purchase of prescription drugs. This measure could significantly reduce the cost of drugs and therefore will most certainly impact pharmaceutical manufacturers, managed care companies, pharmacies and other industry participants, as well as prescription drug consumers. For … Continue Reading
Antitrust enforcement may be becoming an increasingly politicized issue, however, most policies are fairly consistent from administration to administration and, consequently, from one Attorney General to the next. Replacing Attorney General Matthew Whitaker, William P. Barr was recently appointed by the Senate to serve as Attorney General. Having previously served as Attorney General under President … Continue Reading
Recently, the DOJ has shined a spotlight on the potential antitrust risks associated with employers’ use of “no-poach” agreements, in which companies agree not to hire or solicit each other’s employees. Interestingly, in February of this year, the DOJ filed Statements of Interest in several civil antitrust cases brought against franchisors, taking the position that … Continue Reading
The EU Commission, the Competition and Markets Authority (CMA) or other sector regulators with competition powers may conduct unannounced onsite inspections of businesses if they suspect a breach of competition law through anti-competitive activity or conduct. These surprise inspections, often dubbed ‘dawn raids’, are employed to gather evidence in relation to suspected cartels. Such raids are … Continue Reading
