Category Archives: Law and Law Enforcement

Three Former Traders for Major Banks Arraigned in Foreign Currency Exchange Antitrust Conspiracy

Three United Kingdom nationals and former traders of major banks voluntarily surrendered to the FBI and were arraigned on a charge arising from their alleged roles in a conspiracy to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange (FX) spot market, the Justice Department announced today.

Department of Justice Statement on the Closing of its Investigation Into the Possible Acquisition of Chicago Sun-Times by Owner of Chicago Tribune

The Department of Justice’s Antitrust Division issued the following statement today after announcing the closing of its investigation into the possible acquisition of the Chicago Sun-Times by tronc Inc., the owner of the Chicago Tribune:

On May 15, 2017, the Antitrust Division announced that it was investigating the possible acquisition of the Chicago Sun-Times by tronc because the merger of the two daily newspapers in Chicago would raise significant antitrust concerns.

U.S. District Court Blocks EnergySolutions’ Acquisition of Waste Control Specialists

Senior Judge Sue L. Robinson of the U.S. District Court for the District of Delaware today ruled in favor of the Justice Department’s civil antitrust lawsuit to block radioactive waste disposal provider EnergySolutions’ $367 million acquisition of rival Waste Control Specialists. Judge Robinson entered an order ruling in favor of the United States and enjoining the merger.

Justice Department Expresses Concerns to Kansas Real Estate Commission Regarding Regulation that Would Prohibit Real Estate Agents from Offering Gift Cards to Home Buyers

The Department of Justice’s Antitrust Division sent a letter to the Kansas Real Estate Commission expressing its concerns regarding K.A.R. 86-3-32, a proposed regulation that would bar Kansas real estate brokers from offering gift cards to home buyers.

Justice Department Requires Divestiture of General Electric Company’s Water & Process Technologies Business before Merger with Baker Hughes Incorporated

The Department of Justice announced that it will require General Electric Co. and Baker Hughes Incorporated to divest GE’s Water & Process Technologies business in order to proceed with their merger. The department said that the proposed transaction, without the divestiture, would substantially lessen competition for refinery chemicals and services in the United States, leading to higher prices and a reduction in service quality.

International Competition Network Adopts Recommended Practices on Merger Notification and Review and New Work on a Framework for Analyzing Exclusionary Unilateral Conduct

At its annual meeting, the International Competition Network (ICN) adopted new recommended practices for merger review, addressing notification thresholds, remedies, and efficiencies; a framework for analyzing unilateral conduct; guiding principles for market studies; and a report on setting cartel fines, the Department of Justice announced today.

Deere Abandons Proposed Acquisition of Precision Planting from Monsanto

The Department of Justice announced today that Deere & Company and the Monsanto Company terminated Deere’s attempt to purchase Precision Planting LLC from Monsanto. The department filed suit on Aug. 31, 2016, to block the acquisition, alleging that the transaction was a merger-to-monopoly in high-speed precision planting systems, an innovative technology that enables farmers to accurately plant corn, soybeans and other row crops at up to twice the speed of a conventional planter. The case was scheduled for trial in U.S. District Court in Chicago on June 5, 2017.