Antitrust matters are rarely isolated within a single state or federal agency or jurisdiction. We represent clients facing multi-dimensional antitrust challenges on the transactional, regulatory and litigation fronts, mobilizing an unmatched combination of courtroom excellence, government experience and legal, economic and academic prowess on our clients’ behalf.
U.S. and E.U. competition agencies have announced temporary changes in their merger review procedures as a result of the COVID-19 pandemic. Significantly, the U.S. antitrust agencies will not grant any requests for early termination. Competition review and approval delays are possible on a global basis. We review developments in competition enforcement in light of the pandemic.
DOJ Resolves Criminal Product Market Allocation Charge with $100 Million Penalty and Deferred Prosecution Agreement
On April 30, the Department of Justice (DOJ) announced that a Florida oncology group has agreed to pay a criminal penalty of $100 million, which is the statutory maximum amount, to resolve a charge that it conspired with a competing group to enter into a product allocation scheme involving types of cancer treatments
Paul, Weiss is advising Cigna Corporation on the regulatory clearance of the $6.3 billion sale of its group life and disability insurance business to New York Life.
February was a particularly active month for the Federal Trade Commission, which sued to block three mergers and settled a matter involving issues of market allocation and board interlocks. The Department of Justice also had an active month for criminal enforcement. Meanwhile, several states and the District of Columbia lost their bid to block the Sprint-T-Mobile merger, and the Seventh Circuit issued a significant monopolization opinion.
Paul, Weiss won a major appeal in the Fifth Circuit on behalf of client Becton, Dickinson and Company (BD) in a long-running antitrust and false advertising litigation brought by competitor Retractable Technologies, Inc. (RTI).
Awards & Recognition
Corporate partner Scott Barshay and litigation partner Rick Rule have been named American Lawyer “Dealmakers of the Year.”
Cigna announced that the Antitrust Division of the DOJ cleared Cigna’s $67 billion acquisition of pharmacy benefits manager Express Scripts Holding.
In a victory for client Nomura and other defendant banks, Paul, Weiss and other joint defense firms won the dismissal of a consolidated class action alleging that Nomura and other major global financial institutions conspired to manipulate prices in the multitrillion-dollar global market for supranational, sub-sovereign and agency (SSA) bonds.