Category: Justice

DEA Administrator Cole held a press conference on Aug. 5 detailing ongoing operations against the Jalisco New Generation Cartel, linking the designated foreign terrorist organization directly to the fentanyl crisis killing tens of thousands of Americans annually. CJNG’s designation as a foreign terrorist organization unlocks additional law enforcement authorities and escalates the legal severity of any involvement with the cartel. The FTO status subjects CJNG associates to terrorism-related charges that carry significantly harsher penalties than standard narcotics offenses. Administrator Cole highlighted CJNG’s role as a primary source of fentanyl trafficking into the United States. The synthetic opioid was responsible for

The Department of Justice Antitrust Division withdrew a Business Review Letter issued to Institutional Shareholder Services in 1987, removing a longstanding legal protection for the proxy advisory firm that controls a dominant share of the market influencing corporate shareholder votes. The withdrawal was announced Aug. 11. ISS and its primary competitor, Glass Lewis, together control more than 90% of the proxy advisory market. Their recommendations influence shareholder voting at thousands of publicly traded companies annually, affecting decisions on executive compensation, board composition and corporate strategy. Business Review Letters signal the DOJ’s intention not to challenge a proposed business arrangement. Withdrawing

The Justice Department’s Antitrust Division on Aug. 5 withdrew a 1987 business review letter that had given Institutional Shareholder Services favorable antitrust treatment for nearly four decades, signaling potential new scrutiny of the proxy advisory industry. ISS and its primary competitor Glass Lewis together control more than 90% of the proxy advisory market, which advises institutional investors on how to vote at corporate shareholder meetings across thousands of U.S. public companies each year. Business review letters represent the DOJ’s historical assessment that a particular business practice does not warrant enforcement action. Withdrawing one does not constitute a formal enforcement action

The Justice Department Antitrust Division and Tennessee Attorney General jointly required CRH plc to divest two hot-mix asphalt plants as a condition of its acquisition of Standard Construction, the agencies announced Aug. 7. The action is the first joint antitrust enforcement action between DOJ and Tennessee’s attorney general, described by both offices as a model for state-federal cooperation in merger enforcement. The divestitures are required to preserve competition in the western Tennessee hot-mix asphalt market, which CRH would otherwise dominate, the Antitrust Division said. CRH is one of the world’s largest building materials companies, while Standard Construction is a regional

The Department of Justice Antitrust Division withdrew a 1987 business review letter that had for nearly four decades shielded Institutional Shareholder Services from antitrust scrutiny, removing a key legal protection for the dominant proxy advisory firm, on Aug. 5. ISS and its chief competitor Glass Lewis collectively control more than 90 percent of the proxy advisory market, which influences how institutional investors vote on corporate governance matters at virtually every major U.S. public company. Business review letters issued by the Antitrust Division signal the department’s view that proposed business conduct does not raise antitrust concerns. Withdrawal of the letter signals

The Department of Justice Antitrust Division withdrew a 1987 Business Review Letter that had shielded Institutional Shareholder Services from antitrust scrutiny for nearly four decades, the department announced Aug. 5. The move opens the door to potential investigation of a firm that dominates corporate governance recommendations. ISS, along with Glass Lewis, controls more than 90% of the U.S. proxy advisory market, providing vote recommendations to institutional investors on matters including executive compensation, board composition and corporate mergers. By withdrawing the letter, the DOJ signaled it is no longer bound by its 1987 position and is free to investigate whether ISS’s