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FTC Chairman Testifies Before House Appropriations Committee on Agency’s Budget
XCL Resources Holdings, LLC et al, USA v.
The Federal Trade Commission announced that crude oil producers XCL Resources Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) will pay a record $5.6 million civil penalty to settle allegations they engaged in illegal pre-merger coordination, known as gun jumping, in violation of the Hart-Scott-Rodino Act (HSR Act).
FTC Files Amicus Brief on DOJ’s Proposed Final Judgment Against Google for Antitrust Violations
FTC and DOJ Issue Letter Seeking Identification of Anticompetitive Regulations Across the Federal Government
Petition of Chevron Corporation and Hess Corporation To Reopen and Set Aside Order
Illinois and Minnesota Join FTC Lawsuit Challenging Medical Device Coatings Deal
Facebook, Inc., FTC v. (FTC v. Meta Platforms, Inc.)
The Federal Trade Commission has sued Facebook, alleging that the company is illegally maintaining its personal social networking monopoly through a years-long course of anticompetitive conduct. The complaint alleges that Facebook has engaged in a systematic strategy—including its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp, and the imposition of anticompetitive conditions on software developers—to eliminate threats to its monopoly. The Commission vote to authorize staff to file for a permanent injunction and other equitable relief in the U.S. District Court for the District of Columbia was 3-2. Commissioners Noah Joshua Phillips and Christine S. Wilson voted no.
To view the FTC v. Meta trial exhibits, click here. Please note there is a two-business day delay in uploading exhibits.
FTC Launches Public Inquiry into Anti-Competitive Regulations
FTC Seeks Public Comment on Petition to Modify Exxon-Pioneer Final Order
FTC Seeks Public Comment on Petition to Modify Chevron-Hess Final Order
Tempur Sealy International, Inc. and Mattress Firm Group Inc., In the Matter of
The Federal Trade Commission moved to block Tempur Sealy International, Inc.’s (Tempur Sealy) proposed $4 billion acquisition of Mattress Firm Group Inc. (Mattress Firm).
The Commission issued an administrative complaint and authorized a lawsuit in federal court to block the acquisition, alleging that Tempur Sealy—the world’s largest mattress supplier and manufacturer—will have the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers once it acquires Mattress Firm.
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