On August 16, 2023, the Federal Trade Commission announced that it has settled, via a proposed consent order, a pending antitrust investigation into a proposed acquisition in which a private equity firm, Quantum Energy Partners (“Quantum”), was integrally involved with natural gas producer EQT Corporation (“EQT”).[1] The conduct remedies include Quantum agreeing to relinquish seats on a competitor’s board, which is particularly important for
Read More The FTC has Recently Substantially Elevated its Focus upon Both Private Equity and Interlocking DirectoratesFTC Proposes Dramatic Changes to HSR Premerger Filings, as Agencies Unveil New Merger Guidelines
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On October 10, the Federal Trade Commission (“FTC”) announced its final rules with respect to Premerger Notification under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 (as amended) (“HSR”). The final rules formalize what will be the largest change to premerger notification requirements since at least 2000. The final rules follow from the draft rules that the FTC published in June 2023.[1] The new…
Read More FTC Proposes Dramatic Changes to HSR Premerger Filings, as Agencies Unveil New Merger GuidelinesThe FTC Has Revised Its Endorsement and Testimonial Guides
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On June 29, 2023, the Federal Trade Commission (“FTC”) published the final version of its revised “Guides Concerning the Use of Endorsements and Testimonials in Advertising”[1], hereinafter (“Guides”). For the purposes of the Guides, it is important to note that endorsements and testimonials are treated identically.[2]
The revised Guides contain a number of significant changes to the prior version of the Guides…
Read More The FTC Has Revised Its Endorsement and Testimonial GuidesThe FTC to Vigorously Enforce The Robinson-Patman Act
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The Federal Trade Commission (FTC) has announced its intention to ramp up enforcement of the Robinson-Patman Act (RPA), a Great Depression era anti-price discrimination law. Neither the FTC nor the DOJ has significantly enforced the RPA for several decades. This announcement marks a major shift in the enforcement landscape. Companies should work with counsel to take stock of pricing activities and to review potentially impacted…
Read More The FTC to Vigorously Enforce The Robinson-Patman Act“FTC Merger Policy Shifts May Spur Uncertainty And Risk”
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Partner Benjamin Diessel, Senior Counsel Robert Langer and Associate Zeynep Aydogan authored a piece titled, “FTC Merger Policy Shifts May Spur Uncertainty And Risk” for Law360. The article discusses the recent measures that the Federal Trade Commission has taken to “reshape its enforcement priorities for review of mergers and acquisitions.”
Traditionally, new policies have been adopted jointly by the FTC and the U.S.
Read More “FTC Merger Policy Shifts May Spur Uncertainty And Risk”The FTC’s Recent Unilateral Changes in Its Merger Policies Creates Both Uncertainty and Increased Risk
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The Federal Trade Commission (“FTC” or “Commission”) has recently taken bold measures to reshape the Commission’s enforcement priorities for review of mergers and acquisitions. The FTC shares jurisdiction over such reviews with the United States Department of Justice (“DOJ”). Accordingly, new policies have historically been adopted jointly by the FTC and DOJ. Several recent actions of the FTC, however, have been undertaken unilaterally in a stark…
Read More The FTC’s Recent Unilateral Changes in Its Merger Policies Creates Both Uncertainty and Increased RiskThe LabMD Decision Reins In the FTC’s Authority to Issue Broadly Worded and Ill-Defined Orders
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In the 11th Circuit’s highly anticipated decision in LabMD, Inc., v. FTC, the court declined to reach the most contentious issue in the case: the scope of the Federal Trade Commission’s (FTC) authority to regulate data privacy and security practices as an unfair act or practice under Section 5(n) of the FTC Act absent evidence of demonstrable harm resulting from a data breach…
Read More The LabMD Decision Reins In the FTC’s Authority to Issue Broadly Worded and Ill-Defined OrdersThird Circuit Affirms FTC’s Ability to Bring Cybersecurity Enforcement Actions
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On August 24th, the United States Court of Appeals for the Third Circuit issued its decision in Federal Trade Commission v. Wyndham Worldwide Corp., affirming a 2014 district court ruling that the Federal Trade Commission (“FTC”) has the authority to regulate cybersecurity lapses. The Third Circuit also held that Wyndham – the global hospitality giant — had fair notice that its cybersecurity practices could…
Read More Third Circuit Affirms FTC’s Ability to Bring Cybersecurity Enforcement ActionsNorth Carolina State Board of Dental Examiners v. FTC — What Hath the Supreme Court Wrought?
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The federalism debate has continued to serve as a point of controversy and division in American politics and jurisprudence.1 The balance of power between the states and the federal government has shifted over time reflecting the realities of this debate. Historically, the states were thought to possess the exclusive power to regulate ‘‘their purely internal affairs” through the exercise of their police powers.2…
Read More North Carolina State Board of Dental Examiners v. FTC — What Hath the Supreme Court Wrought?FTC Announces New Premerger-Notification and Interlocking-Directorate Thresholds
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The Federal Trade Commission (FTC) has announced its annual adjustment of the thresholds for premerger notification filings under the Hart-Scott-Rodino Act (HSR), as well its adjustment for the thresholds for prohibitions on certain interlocking directorates under Section 8 of the Clayton Act.
The new HSR thresholds will be effective thirty days after publication in the Federal Register. Publication is expected sometime during the week of…
Read More FTC Announces New Premerger-Notification and Interlocking-Directorate Thresholds