In Part 1 of this article (here), I argued that the Sherman Act was unconstitutional as a criminal statute because it is void for vagueness. A statute that criminalizes all restraints of trade cannot be saved by the Supreme Court explaining what Congress really must have really meant. What passed constitutional muster when the Sherman…
If you ever wanted to sell a student on pursuing a career in antitrust because of the interesting possibilities, Brent Snyder’s career (which is far from over) would be a good case in point. Mr. Snyder graduated with Honors from the University of Texas School of Law, where he was an Associate Editor of the…
If you get lost, sometimes you must go back and start again from the beginning. I’ve been a bit lost on whether the Sherman Act is unconstitutional as a criminal statute. It is well accepted that per se violations of the Sherman Act can be prosecuted criminally. An individual can be sentenced to up to…
Complex transactions are subject to an increased level of antitrust scrutiny by competition authorities. This often results in extended waiting periods between signing and closing – it can nowadays be one year or even longer before the parties are able to implement the deal. For the acquiring company it is often important to start planning…
In the European Union, Big Pharma has been operating with a target on its back for the best part of the last decade. Eight years after the conclusion of the 2008 pharmaceutical sector inquiry, it is clear that the Commission has largely been true to its stated enforcement priorities. However, the recent announcement of an…
The European Commission increasingly issues large document requests in complex merger cases. The number of requested documents has increased significantly in recent years, from a few hundred to several hundred thousand, in particular in Phase I or Phase II cases that raise substantial issues. If the document request is issued during the formal proceedings, the documents…
On May 10, 2017, the European Commission published the final report on its sector inquiry on competition in the e-commerce sector (the E-Commerce Report) and a mid-term review of its digital single market (DSM) initiative (the DSM Review), both of which were originally announced in May 2015. The E-Commerce Report confirms that the Commission has…
The “New Frontiers of Antitrust 2017” competition law conference organized by Concurrences Review will be held in Paris on June 26, 2017. This year the conference, held each year since 2009, will focus on Competition Authorities, Mergers and Innovation, State Aid and Tax Ruling, and the Politics of Competition Regulation. The “Competition Authorities: Towards More…
With just two months left in the U.S. Supreme Court’s current term, it’s a good time to take a look at the handful of petitions in antitrust cases that remain on the docket. Since the first Monday in October 2016, the Court has yet to grant any petitions for review in antitrust cases. However, three…
It is becoming increasingly common for companies to set prices for their products automatically using algorithms. One recent study found evidence of more than 500 sellers using algorithmic pricing on Amazon marketplace (see here). The Commission’s Preliminary Report on the E-commerce Sector Inquiry also reported use of automatic price adjustments (see paragraph 552). There are…
