The Antitrust Week In Review
Here are some of the developments in antitrust news this past week that we found interesting and are following.
New York, other states to fight dismissal of antitrust lawsuit against Facebook. New York and other U.S. states filed a notice on Wednesday saying they will fight the dismissal of an antitrust lawsuit that they launched against Facebook Inc in an appeals court. In June, a U.S. judge dismissed federal and state antitrust complaints against the social media company that had sought to force it to sell Instagram and WhatsApp. Judge James Boasberg of the U.S. District Court for the District of Columbia dismissed the states’ lawsuit but said the Federal Trade Commission could refile its complaint. New York Attorney General Letitia James said the states would press on.
White House says scrapped Aon-Willis deal shows ‘robust enforcement.’ The White House praised the Justice Department’s successful effort to stop a $30 billion deal that would have created the world’s biggest insurance broker, saying the agency’s work was “robust enforcement of the antitrust laws.” Aon Plc and Willis Towers Watson Plc called off their merger, saying U.S. regulators’ objections created unacceptable delay and uncertainty. The Justice Department had filed a lawsuit to stop it. White House press secretary Jen Psaki praised the Justice Department, saying its effort was “what the president was talking about when he called for more robust enforcement of the antitrust laws.”
Glencore reaches $9.85 mln zinc rigging settlement in New York. Glencore Plc agreed to pay $9.85 million to resolve a private U.S. antitrust lawsuit accusing two units of the Anglo-Swiss mining company of trying to monopolize the market for zinc, driving up its price. The preliminary settlement disclosed in a Friday night filing with the U.S. District Court in Manhattan would resolve litigation that began in May 2014. It requires approval by U.S. District Judge Paul Engelmayer. Zinc purchasers accused U.S.-based Glencore Ltd and Pacorini Metals USA Inc of conspiring from September 2010 to February 2016 to ensure long queues for physical zinc, or Special High Grade zinc, at warehouses licensed by the London Metal Exchange.
Edited by Gary J. Malone