Tag

Antitrust Violations

All articles tagged with #antitrust violations

sports1 year ago•2 min saved

"Proposed 80-Team 'Super League' to Revolutionize College Football"

A group of college presidents, in collaboration with NFL executive Brian Rolapp, is working on forming a "Super League" for college football, effectively replacing the current system with 70 fixed teams and 10 others subject to relegation and promotion. This move aims to introduce control into the chaos of college football and embrace a unionized workforce to legitimize rules and address antitrust violations. The current model for governing and managing college athletics is considered dead, with an existential crisis looming, as viable litigation continues to expose corruption within the system.

via NBC Sports|

#antitrust-violations #college-football #ncaa

business1 year ago•2 min saved

"Californians Sue Hermès Over Difficulty Purchasing Birkin Bags"

Shoppers in California have filed a lawsuit against Hermès, alleging that the luxury brand's sales tactics for its coveted Birkin bag violate antitrust laws by tying the purchase of the bag to other Hermès products. The lawsuit claims that the scarcity and high demand for Birkin bags give Hermès significant market power, and seeks class-action status, damages, and an order to stop the alleged illegal practices. Some social media users have dismissed the complaint as a problem of the wealthy.

via NPR|

#antitrust-violations #birkin-bag #business

business-technology1 year ago•3 min saved

"US Department of Justice Set to File Antitrust Suit Against Apple"

The US Department of Justice is reportedly preparing to sue Apple for alleged antitrust violations related to blocking rivals from accessing iPhone hardware and software features. This move aligns with a broader trend of increased scrutiny on Big Tech by both Democrats and Republicans. The lawsuit would mark the third antitrust case against Apple in the past 14 years and the first to accuse the company of illegally maintaining its dominant position. Apple has faced criticism over its restrictions on third-party access to iPhone features, such as contactless payments and messaging services, with the company citing privacy and security reasons for these limitations.

via Reuters|

#antitrust-violations #apple #big-tech

businesstech1 year ago•2 min saved

"DOJ Set to Sue Apple for Antitrust Violations"

The Justice Department is preparing to sue Apple for antitrust violations, alleging that the tech giant has unlawfully blocked rivals from accessing iPhone hardware and software features. This marks the Biden administration's latest move in its antitrust battles against major US technology companies, following suits against Google, Meta Platforms Inc., and Amazon.com Inc. Apple is also facing increased scrutiny in Europe over alleged anticompetitive behavior, including a recent €1.8 billion fine for restricting music streaming rivals. The lawsuit comes amid ongoing concerns about Apple's dominance and potential violations of EU regulations for Big Tech.

via Yahoo Finance|

#antitrust-violations #apple #businesstech

sports-legal2 years ago•2 min saved

"Legal Challenges and Reactions to NCAA's NIL Rules and Investigations"

The attorney generals of Tennessee and Virginia have filed a federal lawsuit against the NCAA, alleging that the name, image, and likeness (NIL) rules constitute antitrust violations. The lawsuit aims to reduce restrictions on the process by which recruits negotiate NIL deals and communicate with schools regarding NIL opportunities prior to enrolling or signing a letter of intent. This comes as the NCAA investigates the Tennessee Vols for potential violations of the NIL rules, with the university facing potential sanctions if found to be a repeat violator.

via Bleacher Report|

#antitrust-violations #lawsuit #name-image-likeness

legalpharmaceutical-industry2 years ago•2 min saved

"US Court Upholds Martin Shkreli's Lifetime Ban from Pharmaceutical Industry"

Martin Shkreli, infamously known as "pharma bro," has had his lifetime ban from the pharmaceutical industry upheld by a US court. The ban was imposed due to his antitrust violations, including the astronomical price increase of a life-saving drug. Shkreli's appeal was rejected, and he was ordered to repay $64.6m. The court emphasized the likelihood of his past misconduct recurring and the life-threatening nature of its results. Shkreli's lawyer indicated the possibility of a further appeal, while the FTC hailed the decision as a win for consumers seeking affordable medication.

via The Guardian US|

#antitrust-violations #court-ruling #legalpharmaceutical-industry

legalcriminal-justice2 years ago•2 min saved

Egg Producers Found Guilty of Price Fixing Conspiracy

A federal jury in Illinois has ruled that several major egg producers, including Cal-Maine Foods, Rose Acre Farms, United Egg Producers, and United States Egg Marketers, conspired to limit the supply of eggs in the U.S. between 2004 and 2008, resulting in inflated prices. The lawsuit, originally filed in 2011, alleged that the producers used various tactics to restrict the domestic supply of eggs. Damages will be determined in a trial scheduled for next week. The case also involves food manufacturers such as Kraft Foods Global, Inc. and The Kellogg Company, who joined as plaintiffs. The family company of an Indiana egg farmer, who is running for the U.S. Senate, is among the suppliers named in the lawsuit.

via ABC News|

#antitrust-violations #damages #egg-producers

legal2 years ago•3 min saved

Jury Finds Egg Producers and Trade Groups Liable in Price-Fixing Conspiracy

Kellogg, Kraft, and Nestle likely overpaid for eggs due to a conspiracy by the nation's largest egg producers and two trade groups to restrict supply, according to an Illinois federal jury. The jury found that Cal-Maine Foods, Rose Acre Farms, and the trade groups will have to pay damages to the food companies. The amount of damages will be determined in a future trial. This verdict could encourage other plaintiffs seeking to hold food producers accountable for anticompetitive behavior.

via Bloomberg Law|

#antitrust-violations #damages #egg-producers

business2 years ago•2 min saved

Senate Democrats Demand FTC Probe Into Exxon and Chevron's Mega Deals

Senate Majority Leader Chuck Schumer and other Senate Democrats have urged the U.S. Federal Trade Commission (FTC) to investigate the recent acquisitions by Exxon Mobil and Chevron, claiming potential antitrust violations. Schumer sent a letter to the FTC Chair, expressing concerns that the mergers with Pioneer Natural Resources and Hess could harm competition and consolidate control of gasoline prices. Chevron's CEO, Mike Wirth, stated that they do not see any antitrust concerns and believe the deals are beneficial for shareholders and energy security. Both Exxon Mobil and Chevron stocks have dropped since the announcements and reported worse-than-expected third-quarter earnings.

via Investor's Business Daily|

#antitrust-violations #business #chevron

business2 years ago•3 min saved

House GOP Investigates Alleged Antitrust Violations and ESG Policies at BlackRock and Vanguard

House Republicans are investigating major asset managers, including BlackRock, Vanguard, and State Street, for potential violations of U.S. antitrust law in their efforts to achieve net-zero carbon emissions. The lawmakers have sent letters demanding records related to the firms' coordination of their climate goals. Republicans argue that these actions may harm American consumers and violate antitrust laws. The investigation follows a previous probe into Climate Action 100+ for operating like a cartel. BlackRock, as a key driver of ESG standards, has faced criticism for prioritizing climate extremism and left-wing social politics over shareholder interests.

via The Federalist|

#antitrust-violations #blackrock #business