News & Analysis as of

European Competition Law Newsletter – October 2015

On 14 September 2015, an individual (Nigel Snee) was sentenced by a UK court to six months of imprisonment, suspended for 12 months, for committing the criminal “cartel offence”. He was also ordered to do 120 hours of...more

Now in force: Major amendments to the antitrust damages regime in the UK

The Consumer Rights Act 2015 (“CRA”) comes into force today, 1 October 2015. It introduces major reforms to the antitrust damages actions regime in the UK. In particular, the CRA broadens the type of cases that can be heard...more

When Is Evidence of a Foreign Cartel Proof of a U.S. Price-Fixing Conspiracy?

The Third Circuit held that in antitrust cases involving concentrated markets, courts must carefully consider the nature of the industry and whether the actions of defendants can be equally attributed to independent conduct...more

Hong Kong Competition Commission Consults on Draft Cartel Leniency Policy

On September 23, 2015, the Hong Kong Competition Commission (the Commission) released a draft leniency policy for undertakings engaged in cartel conduct (the Policy) for public consultation. Feedback is invited by the...more

Antitrust Matters - September 2015

Antitrust investigations are no longer limited to a nation’s borders, or even to a region. Enforcers are more and more sharing information and coordinating their investigative efforts as they strive to uniformly enforce the...more

Antitrust Division Announces First Guilty Plea in Capacitor Cartel Investigation

The Department of Justice’s far-reaching criminal investigation into the alleged electronic capacitor cartel has borne fruit – NEC Tokin Corporation agreed to plead guilty and pay a $13.8 million criminal fine for conspiring...more

The True Impact of DOJ’s Individual Prosecution Memo

The Justice Department can surprise you – the release of the Yates Memo, as it is commonly referred to since it takes on the name of the Deputy Attorney General (e.g. McNulty Memo), is another strange example of DOJ...more

ECJ Interprets Rules of Jurisdiction for Cartel Damages Claims

The European Court of Justice (“ECJ”) has recently handed down a landmark judgment in the Hydrogen Peroxide case, confirming that cartel victims may jointly sue cartelists for damages in an EU Member State where only one of...more

Business Litigation Report - August 2015

Extradition for U.S. Antitrust Crimes: An Anomaly or the New Normal? - In April 2014, Germany extradited Romano Pisciotti, an Italian national, to the United States to face criminal charges related to his alleged...more

Extradition for U.S. Antitrust Crimes: An Anomaly or the New Normal?

In April 2014, Germany extradited Romano Pisciotti, an Italian national, to the United States to face criminal charges related to his alleged participation in an international cartel in the marine hose industry. (Press...more

SEC probes US Banks for Mexican Drug Cartel Ties

The US Securities and Exchange Commission (SEC) is investigating two prominent US banks for ties to Mexican drug cartels. Reuters has reported that the SEC is conducting a sweep of the brokerage industry to ensure compliance...more

European Competition Law Newsletter – August 2015

Continuing an EU-wide trend, yet another trade association has been fined in the UK for cartel activities. This time it was a medical professionals’ association. The message is clear; trade associations of all types need to...more

Motorola and the Extraterritorial Application of US Antitrust Laws to Foreign Component Price Fixing Cartels

Last month the Supreme Court declined to accept an appeal for two related antitrust cases involving an international price-fixing cartel. The cases come from different circuits, one was criminal and the other civil, but they...more

Competition News July-August 2015

French merger control: The Competition Authority agrees to approve the prospective acquirer of assets sold by the purchaser - On May 15, 2015, the Competition Authority authorized, subject to certain conditions, the...more

A New Concept in Cartel Fining: “Direct EEA Sales Through Transformed Products”

On 9 July 2015, the Court of Justice of the European Union (CJEU) issued its judgment in InnoLux Corp. v Commission C-231/14P, confirming the existence of a new concept in cartel fining: “direct European Economic Area [EEA]...more

Enforcement Provides Important Update for Auto Industry

For the last several years, the global auto industry has been rocked by unprecedented investigations and prosecution. Numerous international cartels, involving scores of companies and individuals, have engaged in...more

Milk expiration dates and clever cartels

The Planet Money podcast this week has a story about the Greek economy. According to the podcast, there is a Greek milk producer “cartel.” Of course cartels are unlawful in Europe, just as they are in the U.S. So it seems...more

ECJ Decision in LCD Cartel Case Affirms Potential for Higher Fines to be Imposed on Vertically Integrated Companies

Decision allows Commission to consider sales of products incorporating cartelized goods when calculating cartel fines for a vertically integrated group selling the “transformed product” in Europe. On 9 July 2015, the...more

The Court of Justice of the European Union Confirms the Commission’s Long Arm in Fighting International Cartels

In a landmark victory for the European Commission (Commission) before the Court of Justice of the European Union (CJEU) on 9 July 2015, the Court upheld the EUR 288 million fine imposed on a Taiwanese producer of liquid...more

Standing in the antitrust firing line - Regulators investigating antitrust cases are reaching across borders, and fines are on the...

Regulators investigating antitrust cases are working across borders and are getting tougher on transgressors. Corporates at risk need to be more prepared than ever. In 2000, a cartel of companies producing the animal...more

European Competition Law Newsletter – July 2015

On 24 June 2015, the UK Competition and Markets Authority (CMA) was defeated in its first attempt at convincing a jury to convict individuals for the UK criminal “cartel offence”. The jury was not persuaded that the two...more

Portfolio Companies’ Antitrust Risks Reflect on PE Houses

Antitrust authorities around the world are increasingly collaborating with each other in an effort to unearth anticompetitive behavior such as cartels, and are devoting greater resources to doing so. As a result, PE houses...more

Competition News June 2015

The French Competition Authority departs substantially from its method for calculating fines in the poultry cartel cases - In its poultry cartel decision of May 6, 2015, the French Competition Authority was forced to...more

Clarity Put on Hold as FTAIA Conflict/Confusion Continues

The Foreign Trade Antitrust Improvements Act (FTAIA) was enacted in 1982 to help achieve clarity in the application of U.S antitrust laws to international trade. More than 30 years since that effort, the FTAIA has not...more

Antitrust Update: The Aggressive Global Enforcement Network

Companies face lots of risks – the soup du jour has been anti-corruption enforcement and compliance. Like any consistent restaurant you might visit regularly, one risk continues to grow, quietly and significantly –...more

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