Antitrust

The Department of Justice’s Antitrust Division is investigating the auto parts industry – and obtaining some significant results. In fact, prosecutors say, the auto parts investigation is the largest criminal investigation the Antitrust Division has ever pursued, both in terms of its scope and the potential volume of commerce affected by the alleged illegal conduct. 

Two Japanese suppliers of automotive electrical components—Yazaki Corporation and DENSO Corporation—have agreed to plead guilty and to pay a total of $548 million in criminal fines for their involvement in multiple price-fixing and bid-rigging conspiracies in the sale of parts to automobile manufacturers in the United States.

The Department of Justice filed a civil antitrust lawsuit today against Blue Cross Blue Shield of Michigan (BCBSM) alleging that provisions of its agreements with hospitals raise hospital prices, prevent other insurers from entering the marketplace and discourage discounts. The Justice Department said that these agreements likely resulted in Michigan consumers paying higher prices for their healthcare services and health insurance. 

Credit card acceptance costs U.S.

The Department of Justice and the Federal Trade Commission have issued revised Horizontal Merger Guidelines that outline how the federal antitrust agencies evaluate the likely competitive impact of mergers and whether those mergers comply with U.S. antitrust law.

A big antitrust action was filed today against several major technology companies for allegedly illegally fixing prices for liquid crystal display (“LCD”) screens used in computers, televisions, and cell phones.

Scott D. Hammond, Deputy Assistant Attorney General for Criminal Enforcement Antitrust Division, presented a paper today at the 24th Annual National Institute on White Collar Crime in Miami that is must reading for white collar criminal defense lawyers and corporate executives interested in understanding the state of antitrust law today. 

The Gibson Dunn law firm is out with its annual update of criminal antitrust enforcement in 2009. The detailed report includes some startling facts: 

Credit Suisse Securities (USA) LLC v. Billing, 551 U.S.  264 (2007), was an antitrust action against underwriting firms that marketed and distributed shares in initial public offerings. The plaintiffs in that case

We wrote the other day about New York State Attorney General Andrew Cuomo’s charges against Intel, and included some of the email Cuomo says he is relying on to press his action. See http://www.financialfraudlaw.com/lawblog/bribery-and-coercion-intel-that%E2%80%99s-what-cuomo%E2%80%99