Private Antitrust Enforcement in Italy

Private Antitrust Enforcement in Italy

By Mario Siragusa & Alessandro Comino –  In 2017, Italy implemented Directive No. 2014/104/EU by adopting Legislative Decree No. 3/2017, which introduced a number of procedural and substantive provisions to facilitate damages claims by victims of antitrust infringements. Even though the Italian legal framework already provided judicial protection for victims seeking damages arising from antitrust […]

Comment on Cartel Enforcement in the Trump Administration

Comment on Cartel Enforcement in the Trump Administration

By John M. Connor –  This comment examines trends in anti-cartel enforcement by the Antitrust Division of the U.S. Department of Justice (the Division) and coordinated actions by other U.S. Government agencies, with particular attention paid to developments in 2017 and 2018. It examines three measures of cartel-enforcement. Whether the Trump administration can develop a […]

Antitrust Damages, Fines, and Deterrence: Collusion in the Nurse Labor Market

Antitrust Damages, Fines, and Deterrence: Collusion in the Nurse Labor Market

By Roger D. Blair & Anita Walsh –  Those who violate the Sherman Act are subject to fines and to treble damage actions under §4 of the Clayton Act. The economic rationale for those sanctions is deterrence rather than retribution. In the context of collusion in the nurse labor market, this paper recognizes that the […]

It Ain’t Over ’Til It’s Over: Can Making Acpera Restitution Conditional Help Fill a Gap in the Law?

It Ain’t Over ’Til It’s Over: Can Making Acpera Restitution Conditional Help Fill a Gap in the Law?

By Meegan Hollywood & Dave Rochelson –  The Department of Justice Antitrust Division (the “Division”) has secured dozens of guilty pleas and convictions, and billions of dollars in criminal fines over the past decade, but imposed less than $100 million in restitution to victims. Division policy explains that “[f]requently restitution is not sought in criminal […]

Penn State Hershey: A Cautionary Tale for Antitrust Litigators

Penn State Hershey: A Cautionary Tale for Antitrust Litigators

By Margaux Poueymirou –  This article addresses a recent decision by the Court of Appeals for the Third Circuit, Fed. Trade Comm’n v. Penn State Hershey Med. Ctr., 914 F.3d 193 (3d Cir. 2019), upholding the denial of attorneys’ fees to the Commonwealth of Pennsylvania in an action filed by Pennsylvania and the Federal Trade […]

Antitrust Chronicle – Common Ownership Revisited

Antitrust Chronicle – Common Ownership Revisited

Dear Readers, The June 2017 CPI Antitrust Chronicle was centered on the policy debates around Index Funds as a possible “New Antitrust Frontier.” Since then, an intense debate rages on over common ownership and possible competitive effects. We decided to revisit this topic and get a sense of how the debate is progressing. An important […]

CPI Talks…

CPI Talks…

…with Judge Douglas H. Ginsburg –  In this month’s edition of CPI Talks we have the pleasure of speaking with Judge Douglas H. Ginsburg. Judge Ginsburg is a Senior Judge serving on the United States Court of Appeals for the District of Columbia Circuit, Chairman of the International Board of Advisors of the Global Antitrust […]

Common Ownership and Antitrust: Eight Critical Points to Guide Antitrust Policy

Common Ownership and Antitrust: Eight Critical Points to Guide Antitrust Policy

By Menesh S. Patel –  This article presents eight critical points that can aid the ongoing and early development of antitrust policy relating to common ownership. These points touch on some of the most salient issues concerning the relationship between common ownership and competitive harm and have important implications on how regulators should craft antitrust […]

The Competitive Effects of Common Ownership: Theory, Applications, and Mis-Applications

The Competitive Effects of Common Ownership: Theory, Applications, and Mis-Applications

By Daniel P. O’Brien –  An intense policy debate rages over the competitive effects of common ownership. But the empirical work that sparked the debate is not well tethered to economic theory, and this has led to misconceptions about what the empirical work shows. The purpose of this paper is to take a step back […]

Competition and Common Ownership – A Governance Perspective

Competition and Common Ownership – A Governance Perspective

By Holly J. Gregory –  This article considers the potential anticompetitive effects of common ownership by institutional investors in concentrated industries from a corporate governance perspective and questions the hypothesis that companies in concentrated industries are pressed by institutional investors into anti-competitive conduct. It concludes that restricting institutional investor investment and related governance engagement would […]