Antitrust Lawsuits

Free competition has always been the backbone of the economic philosophy of the US. Antitrust laws were specifically created to promote and preserve free competition. Over the years antitrust statutes were created as new laws were needed, but the language of these laws were so broad that the Federal Trade Commission (FTC) and other courts have interpreted and applied those laws in a very broad manner. This flexibility has sometimes made it very difficult for businesses to know when the law has been violated by certain business practices.

BASICS OF ANTITRUST LAWS

The four basic antitrust laws are the Sherman Act (1890), the Clayton Act (1914), the Robinson-Patman Act (1936) and the Federal Trade Commission Act. There are severe penalties for any violation of these antitrust laws. For example, it is a felony to violate the Sherman Act. Corporations may be indicted by the Justice Department, and charged substantial fines. Individual directors, officers or employees of a company that participates in the violation may be convicted (felony conviction), imprisoned, and charged with large monetary fines.

Civil damages, under section 4 of the Clayton Act, can be recovered by any person whose business has been damaged by any antitrust violation, and they can receive triple damages as well as the cost of the suit, including legal fees. In addition, each State’s Attorney General can file a class action suit for an antitrust law violation, which would provide on behalf of all consumers in the class action triple damages.

Antitrust laws came into being to encourage competitiveness in the marketplace. Here are a few important historic antitrust cases, and a few more recent ones for you to examine.

Famous Historic Antitrust Cases

• AT&T – is the US’s oldest and longest standing telecommunications company. Their market monopolization finally ended in 1981, after a seven year battle with four Attorney Generals caused them to be broken up into seven different companies, which would each serve different regions of the country.
• Kodak – At one point Kodak controlled 96 percent of the market in the US! After an antitrust lawsuit and claims, Kodak was finally forced to license their unique coloring process to third parties.
• Standard Oil – The US government applied the Sherman Act to Standard Oil, due to antitrust violations, forcing this major company to be broken up into 34 separate companies, which would then become competitors.
• Microsoft – was sued in 1999 by the Federal Justice Department and a coalition of 19 States. In 2000 Microsoft was ordered to split into two corporations, but the Court of Appeals reversed part of this decision and affirmed part. Eventually the government and Microsoft settled, and Microsoft ceased many practices that were challenged by the government
• FTC vs. Anheuser-Busch – In 1960 the court held that Anheuser-Busch engaged in unfair price discrimination because it sold a “premium” beer at lower prices than the St. Louis local and regional breweries.

Recent and Current Antitrust Cases:

• 3/1/2016 – A Federal grand jury has indicted former CEO Aubrey K. McClendon with conspiring to rig bids to purchase natural gas and oil in northwest Oklahoma. During December 2007 to March 2012 two large gas and oil companies conspired to not bid against each other, plus deciding ahead of time which company would win the leases.
• 2/19/2016 – A federal Grand Jury has indicted two water treatment chemical companies for their part in a conspiracy to stop any competition among the suppliers of liquid aluminum sulfate to pulp and paper companies and municipalities in the US.
• 2/2/2016 – A pipe supply company owner in New Jersey has received 32 months in jail for his role in bribery and fraud conspiracy in the power generation industry. Edison, New Jersey’s American Pipe Bending and Fabrication Co. Inc. must pay pay a criminal fine of $150,000, and $1.6 million to Con Ed, the victim.
• 12/3/2015 – Bumble Bee Foods and Chicken of the Sea International abandoned their merger plans after they were informed by the Department of Justice that their transaction would violate antitrust laws.

For more information, please see: https://en.wikipedia.org/wiki/United_States_antitrust_law

Affect On Consumers

As you can see from the above examples, antitrust lawsuits can be expensive. We are here to provide loans to finance your antitrust settlement! Consumers are affected daily by antitrust laws, which ensure that you will reap the benefit of high quality products or services and competitive prices whether you are buying a car, downloading internet programs, or simply buying groceries. Antitrust laws foster and promote competition in the marketplace by fighting anti-competitive business practices and mergers.

A world with no antitrust laws

If there were no antitrust laws, any competition to powerful organizations would not be possible. There would be “barriers to entry” for energy markets and telecommunications, plus these firms would impose unfair conditions and trade terms on all of their business partners. We are here to help you with early access to loans, and advance money to support your successful case. Our services are risk free, instant, and easy.

Our lawyers have a depth of knowledge in the field, and a high success rate of getting a favorable antitrust settlement for you. In addition, once litigation has begun, it is possible to get a cash advance settlement loan, with the anticipation of settling out of court or winning the lawsuit. Contact Any Lawsuits today for funding options for antitrust cases, as well as breach of contract, class actions, commercial litigations, and much more.

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