The Antitrust Week In Review
Here are some of the developments in antitrust news this past week that we found interesting and are following.
Goldman, JPMorgan, Glencore defeat U.S. lawsuit over zinc prices. A U.S. judge dismissed a private antitrust lawsuit in which zinc purchasers accused affiliates of Goldman Sachs Group, JPMorgan Chase & Co and Glencore Plc of conspiring to drive up prices. In an 87-page decision, Judge Katherine Forrest in Manhattan said purchasers failed to show that the defendants artificially inflated zinc prices in violation of the Sherman Act. The court ruled that although “[i]t remains possible that shenanigans drove up the price of physical zinc,” plaintiffs failed to adequately allege “that such price movement was due to a plausible antitrust violation, as opposed to parallel, unilateral conduct beyond the reach of that statutory scheme.”
Orange in talks to acquire Bouygues Telecom. French telecommunications giant Orange has revealed that it is in talks to acquire Bouygues Telecom, a local rival, in the latest effort to consolidate Europe’s highly fragmented cellphone market. Consolidation in the market has been delayed after European antitrust officials warned that takeovers in the region’s telecom sector could lead to increased prices and a lack of choice for consumers. Orange has more than 260 million subscribers worldwide, including 28 million in France. Bouygues Telecom has 14 million customers, all in France.
NY orders UnitedHealth to pay $100,000 to settle antitrust probe. The New York Attorney General has ordered UnitedHealth Group to pay a $100,000 fine after an investigation found the insurance provider engaged in anti-competitive practices involving elder and long-term care products, according to a source. Reportedly, the settlement focuses on efforts by UnitedHealth to force nursing homes to purchase other additional unwanted insurance services in order to participate in the insurance carrier’s broader network. In addition to paying a fine to settle the case, UnitedHealth also agreed to cease its practice of requiring nursing homes to purchase multiple insurance products.
Tagged in: Antitrust Enforcement, Antitrust Litigation, International Competition Issues,