Antitrust News
FTC Order Bans Former Pioneer CEO from Exxon Board Seat in Exxon-Pioneer Deal
The Federal Trade Commission has taken action to address antitrust concerns related to Exxon Mobil Corporation’s acquisition of oil producer Pioneer Natural Resources by preventing former Pioneer CEO Scott Sheffield from joining Exxon's board of directors or serving in an advisory role at the company. The move aims to safeguard competition in the oil market and protect consumers from potential price manipulation.In a statement, Kyle Mach, Deputy Director of the FTC’s Bureau of Competition, emphasized the necessity of barring Sheffield from Exxon's board, stating, “Mr....
FTC, DOJ, and HHS Extend Comment Period on Cross-Government Inquiry on Impact of Corporate Greed in Health Care
The Federal Trade Commission (FTC), the Department of Justice’s (DOJ) Antitrust Division, and the U.S. Department of Health and Human Services (HHS) have announced an extension of the deadline for public comments on a tri-agency Request for Information (RFI) regarding the impact of corporate greed in health care. The new deadline for submissions is now June 5, 2024.According to the announcement, the cross-government inquiry aims to delve into how certain health care market transactions could lead to increased consolidation and profits for corporations while potentially...
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FTC Finalizes Order with InMarket Prohibiting Sale of Precise Location Data
By Federal Newswire | May 1, 2024
The Federal Trade Commission has taken decisive action against digital marketing and data aggregator InMarket, finalizing a settlement that prohibits the company from selling or sharing precise location data. This move follows allegations of unlawful collection and use of consumers' location data for advertising and marketing purposes.According to the FTC, InMarket was found to have collected location information about consumers without fully informing them of how it would be used. This data, which includes sensitive details about where individuals live, work, and...
FTC Action Leads to $43.6 Million in Financial Relief from Water Treatment Financing Company Aqua Finance
By Federal Newswire | May 1, 2024
The Federal Trade Commission (FTC) has taken action against Aqua Finance, Inc. (AFI), resulting in a settlement that will provide significant financial relief to consumers affected by deceptive sales tactics. The settlement includes $20 million in refunds and $23.6 million in debt forgiveness for consumers harmed by AFI's misleading financing practices.According to Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, AFI and its dealers employed deceptive tactics, including the use of misleading teaser rates, to entice consumers into signing up for loans,...
FTC Takes Action Against BlueSnap for Credit Card Laundering
By Federal Newswire | May 1, 2024
The Federal Trade Commission is taking action against payment processing company BlueSnap, Inc., along with its former CEO Ralph Dangelmaier and senior vice president Terry Monteith, charging them with knowingly processing payments for deceptive and fraudulent companies. “Companies like BlueSnap that knowingly process payments for scammers are breaking the law and making it easier to cheat consumers,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection.The FTC charged that BlueSnap and its officers processed millions of dollars in credit card...
FTC Takes Action Against Improper Patent Listings in Drug Industry
By Federal Newswire | Apr 30, 2024
The Federal Trade Commission (FTC) has expanded its efforts to combat the improper listing of patents in the Food and Drug Administration’s Orange Book, targeting over 300 questionable listings for diabetes, weight loss, asthma, and COPD drugs. One of the drugs under scrutiny is Novo Nordisk Inc.’s popular weight-loss medication, Ozempic.FTC Chair Lina M. Khan emphasized the negative impact of bogus patent listings on drug prices, stating, “By filing bogus patent listings, pharma companies block competition and inflate the cost of prescription drugs, forcing Americans to...
FTC and FCC Strengthen Cooperation on Consumer Protection Issues
By Federal Newswire | Apr 30, 2024
The Federal Trade Commission (FTC) and the Federal Communications Commission (FCC) have solidified their collaboration on consumer protection matters through the signing of a Memorandum of Understanding (MOU). In response to the FCC's recent decision to restore net neutrality, the agencies aim to work closely together in safeguarding consumers.FTC Chair Lina M. Khan emphasized the importance of the partnership, stating, "The FTC is squarely focused on protecting Americans from illegal business tactics... We look forward to continuing to work in close partnership with the...
Razer, Inc. to Pay More Than $1.1 Million for Misrepresenting the Performance and Efficacy of Supposed “N95-Grade” Zephyr Face Masks
By Federal Newswire | Apr 29, 2024
The Federal Trade Commission announced today that Razer, Inc., the sellers of the Zephyr face mask, will pay over $1.1 million to provide full refunds to consumers nationwide and a civil penalty for misrepresenting the performance and efficacy of the supposed "N95-grade" masks. The complaint alleged that Razer falsely marketed the Zephyr masks as N95-grade without submitting them for testing to the FDA or NIOSH, leading to the deceptive claims being halted only after negative press coverage and consumer outrage."These businesses falsely claimed, in the midst of a global...
TopBuild Abandons Proposed Acquisition of SPI After Antitrust Division Concerns
By Federal Newswire | Apr 22, 2024
TopBuild Corp. announced its decision today to abandon its proposed $960 million acquisition of its rival, SPI Parent Holding Company (SPI). This decision came after concerns raised by the Antitrust Division of the Justice Department.Assistant Attorney General Jonathan Kanter of the Antitrust Division highlighted the potential negative impact of the proposed acquisition on competition in the United States. Kanter stated, "TopBuild’s proposed acquisition of SPI would have harmed competition across the United States by combining two of the largest providers of important...
FTC, DOJ, and HHS launch portal for public to report anticompetitive practices in healthcare
By Federal Newswire | Apr 18, 2024
The Federal Trade Commission (FTC), U.S. Justice Department (DOJ), and U.S. Department of Health and Human Services (HHS) have introduced a new tool to help identify illegal anticompetitive behavior in the healthcare industry. The tool, an online portal, allows the public to lodge complaints against companies that engage in practices detrimental to competition.
Australia prepares to update its merger laws
By Federal Newswire | Apr 13, 2024
The Australian government is preparing to revise the nation's merger laws, a move that the Australian Competition and Consumer Commission (ACCC) believes will align Australia with other developed countries.
Oklahoma's attorney general files antitrust lawsuits against Enable and Symmetry Energy
By Federal Newswire | Apr 13, 2024
Oklahoma Attorney General Gentner Drummond has initiated legal proceedings against Enable entities and Symmetry Energy Solutions LLC. The state contends that these companies breached the Oklahoma Antitrust Reform Act and the Oklahoma Common Carrier statute during a significant winter storm that affected the state three years ago.
DOJ Procurement Collusion Strike Force adds four national partners
By Federal Newswire | Apr 13, 2024
The U.S. Department of Justice has broadened the scope and resources of its Procurement Collusion Strike Force (PCSF) by incorporating four national partners. With these new additions, the PCSF now consists of 38 agencies.
Justice Department’s Procurement Collusion Strike Force Welcomes Four New National Law Enforcement Partners
By Federal Newswire | Apr 12, 2024
The Justice Department's Procurement Collusion Strike Force (PCSF) has announced the addition of four new national partners, bringing the total to 38 agencies and offices dedicated to combating antitrust crimes and related schemes in government procurement, grants, and program funding.Assistant Attorney General Jonathan Kanter highlighted the PCSF's commitment, stating, "Since 2019, the Procurement Collusion Strike Force has aggressively investigated and prosecuted crimes that undermine and distort the competitive process in taxpayer-funded procurements."U.S. Attorney...
US and EU antitrust leaders gather for the EU Joint Technology Competition Policy Dialogue
By Federal Newswire | Apr 11, 2024
Antitrust leaders from the Federal Trade Commission (FTC) and the European Commission convened in Washington, D.C., this week for the fourth assembly of the U.S.-EU Joint Technology Competition Policy Dialogue (TCPD). The TCPD serves as a platform to discuss both current and emerging challenges and threats to fair competition in the digital economy.
Justice Department, Federal Trade Commission, and European Commission Strengthen Cooperation in Technology Competition
By Federal Newswire | Apr 11, 2024
Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division, FTC Chair Lina M. Khan, and European Commission Executive Vice President Margrethe Vestager convened in Washington, D.C., for the fourth U.S.-EU Joint Technology Competition Policy Dialogue (TCPD) on Apr 11, 2024.During the meeting, Kanter emphasized the challenges posed by data monopolies and artificial intelligence, stating, "The growth of data monopolies and the rapid expansion of artificial intelligence expand the competitive threats we face from dominant digital gatekeepers."...
FTC and HHS extend comment deadline for GPO and drug wholesaler RFI
By Federal Newswire | Apr 6, 2024
The U.S. Federal Trade Commission (FTC) and the Department of Health and Human Services (HHS) have announced an extension to the public comment period for their joint Request for Information (RFI). The RFI seeks to understand how group purchasing organizations (GPOs) and drug wholesalers contribute to generic drug shortages. The deadline has been extended to May 30, 2024.
Appeals court removes restrictions, allowing DOJ to investigate National Association of Realtors' conduct
By Federal Newswire | Apr 6, 2024
The U.S. Court of Appeals for the District of Columbia Circuit has lifted restrictions that previously prevented the U.S. Justice Department (DOJ) from investigating potential anticompetitive behavior by the National Association of Realtors (NAR). This decision reinforces the DOJ's authority to scrutinize NAR's Participation Rule and Clear Cooperation Policy in an effort to safeguard competition.
U.S. Court of Appeals Upholds Justice Department's Authority to Investigate National Association of Realtors
By Federal Newswire | Apr 5, 2024
The U.S. Court of Appeals for the District of Columbia Circuit has confirmed the Justice Department's authority to investigate potentially anticompetitive conduct by the National Association of Realtors (NAR). The decision, announced on April 5, 2024, overturns restrictions that had previously hindered the Department's ability to probe into NAR's practices.Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division expressed the importance of this ruling, stating, “Real-estate commissions in the United States greatly exceed those in any other...
Alliance for Automotive Innovation CEO: Regulators concerned about Nippon acquring U.S. Steel should 'consider alternative outcomes'
By Federal Newswire | Apr 2, 2024
In a recent correspondence with Lael Brainard, Director of the White House National Economic Council, the Alliance for Automotive Innovation expressed its views on the developments concerning Nippon Steel Corp.'s bid to acquire United States Steel Corp. The acquisition proposal from Nippon Steel, Japan's leading steelmaker, is currently undergoing federal scrutiny.
