On August 14, 2024, the Federal Trade Commission’s (“Commission”) new Trade Regulation Rule on the Use of Consumer Reviews and Testimonials (the “Rule”) was finalized and went into effect. The Rule prohibits specified unfair or deceptive acts or practices involving consumer reviews or testimonials. Violations of the Rule can result in a business being assessed civil penalties up to $51,744 per violation. In addition, any
Read More Beware! The FTC Has Adopted A New Rule Regarding Fake Consumer Reviews and TestimonialsFederal Trade Commission Issuing Non-Compete Clause Rule
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On April 23, 2024, the Federal Trade Commission (FTC) voted to issue a rule prohibiting noncompete agreements with very few exceptions.[1] The issuance of the rule, which was expected, follows the FTC’s prior release of a draft of the proposed rule back in January 2023. Nevertheless, the rule will have a far-reaching effect once, and if, it is fully implemented 120 days after it…
Read More Federal Trade Commission Issuing Non-Compete Clause RuleFederal Trade Commission’s New Trade Regulation Rule
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On April 1, the Federal Trade Commission’s (“Commission”) new Trade Regulation Rule (“Rule”) to combat those that impersonate government entities went into effect. The Rule enables the Commission to directly pursue federal action against scammers who may face civil liability to return money stolen from consumers. This Rule is not simply advisory, but rather the Rule has the force and effect of law. If one…
Read More Federal Trade Commission’s New Trade Regulation RuleStaying in Commission: Guidance for Real Estate Companies Facing Potential Antitrust Litigation
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What began in 2019 as two antitrust lawsuits against the National Association of Realtors (NAR) and four national brokerages has turned into a flood of class action litigation against residential brokers and realtor associations. Following a Kansas City jury’s $1.78 billion award in October 2023 to a class of Missouri home sellers in Sitzer v. NAR, class action lawyers have raced to courthouses around…
Read More Staying in Commission: Guidance for Real Estate Companies Facing Potential Antitrust LitigationRecent Developments Concerning So-Called “Algorithmic Collusion’
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Artificial Intelligence (AI) is quickly evolving to be more capable and efficient in ways that defy even our own imaginations. It is then no surprise that businesses are increasingly looking to AI, including AI-driven pricing algorithms, to optimize their business operations and strategic decision making. Regulators, however, have expressed increasing concern that AI-driven algorithms may facilitate price-fixing agreements, even in the absence of direct human-to-human…
Read More Recent Developments Concerning So-Called “Algorithmic Collusion’New DOJ Safe Harbor Policy Aims to Incentivize Timely Disclosure of Criminal Misconduct Discovered During Mergers and Acquisitions
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On October 4, 2023, Deputy Attorney General Lisa O. Monaco announced the Department of Justice’s new Mergers & Acquisitions Safe Harbor Policy.[1] The policy aims to incentivize timely disclosures of misconduct uncovered during the M&A process by providing a safe harbor and a presumption of a declination to companies that comply with the new Safe Harbor Policy. This advisory addresses steps companies can take…
Read More New DOJ Safe Harbor Policy Aims to Incentivize Timely Disclosure of Criminal Misconduct Discovered During Mergers and AcquisitionsThe Federal Trade Commission and the U.S. DOJ Antitrust Division during the Biden Administration Have Significantly Ramped Up Antitrust Enforcement: Non-Antitrust Lawyers Beware!
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Senior Counsel Robert M. Langer and Michael A. Kurs of Pullman & Comley have co-authored an article titled, “The Federal Trade Commission and the U.S. DOJ Antitrust Division during the Biden Administration Have Significantly Ramped Up Antitrust Enforcement: Non-Antitrust Lawyers Beware!” in the Connecticut Bar Association’s Connecticut Lawyer Magazine.
The article discusses the efforts of the Federal Trade Commission and the Antitrust Division of the…
Read More The Federal Trade Commission and the U.S. DOJ Antitrust Division during the Biden Administration Have Significantly Ramped Up Antitrust Enforcement: Non-Antitrust Lawyers Beware!The FTC has Recently Substantially Elevated its Focus upon Both Private Equity and Interlocking Directorates
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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 Guides