The Antitrust Week In Review
Here are some of the developments in antitrust news this past week that we found interesting and are following.
Uber Can’t Force Arbitration Over Pricing Antitrust Claim. Uber Technologies Inc. can’t require a Connecticut customer accusing the company of price-fixing to resolve the fight in arbitration, a federal judge ruled in one of several cases challenging the ride-hailing company’s efforts to steer disputes of all kinds away from public courtrooms. U.S. District Judge Jed Rakoff in Manhattan said Friday that Uber’s online user agreement did not provide Spencer Meyer with sufficient notice of its arbitration policy for it to be binding. The court denied Uber’s request to throw out the antitrust lawsuit over the company’s practice of raising prices during periods of high demand and have the matter sent to an arbitrator. Constantine Cannon is one of the law firms representing the plaintiff against Uber.
Teva, Allergan Win U.S. Antitrust Approval for Generics Deal. Teva Pharmaceutical Industries Ltd. won U.S. antitrust approval to purchase Allergan Plc’s generics business after agreeing to divest 79 generic drugs to rival firms, the Federal Trade Commission said on Wednesday. The $40.5 billion deal, which was announced in July 2015, solidifies Teva’s position as the world’s No. 1 maker of generics while freeing Allergan to focus on branded drugs. Teva will sell rights and assets related to the 79 pharmaceutical products to 11 rival firms, marking the largest ever drug divestiture order in an FTC pharmaceutical merger case, the FTC stated.
Dow, DuPont Seek EU Okay for $130 Billion Deal with Concessions. U.S. chemical giants Dow Chemical Co. and DuPont have offered concessions in a bid to allay EU antitrust concerns about their proposed $130 billion (£99.1 billion) merger. The companies put in their offer on July 20, according to a filing on the European Commission website, which did not provide details.
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