Recent Development in Antitrust and International Trade Law

FTC ORDERS DIVESTITURE IN KING PHARMACEUTICAL’S ACQUISITION OF RIVAL ALPHARMA

December 29, 2008 at 12:00 pm

On December 29, 2008, the Federal Trade Commission (“FTC”) required a divestiture to resolve antitrust concerns with King Pharmaceuticals, Inc.’s (“King”) $1.6 billion acquisition of Alpharma, Inc. (“Alpharma”). To remedy the situation, the FTC is requiring King to divest Alpharma’s brand Kadian, an oral long-acting opioid (“LAO”) analgesic drug, to […]

A MAJOR IN US ARMY RESERVE PLEADS GUILTY TO BRIBERY AT CAMP VICOTRY, IRAQ

December 22, 2008 at 1:19 am

On December 22, 2008, Theresa J. Baker, a major in the U.S. Army Reserve, pled guilty for her role in two conspiracies to commit bribery involving U.S. Department of Defense (“DOD”) contracts at Camp Victory, Iraq. As a part of the same investigation, on June 3, 2008, Raman International Inc. […]

FTC ORDERS DIVESTITURE IN TEVA’s ACQUISITION OF BARR

December 19, 2008 at 11:57 am

On December 19, 2008, Teva Pharmaceuticals Industries Ltd.’s settled charges that its proposed $8.9 billion acquisition of rival generic drug maker Barr Pharmaceuticals Inc. would be anticompetitive. The consent order required Teva and Barr to sell assets in 29 relevant markets, including generic drugs commonly used to treat acid reflux […]

DOJ FILES ANTITRUST LAWSUIT AGAINST MICROSEMI CORPORATION

December 18, 2008 at 12:29 am

On December 18, 2008, the Department of Justice (“DOJ”) filed an antitrust lawsuit against Microsemi Corporation (“Microsemi”) alleging that Microsemi’s acquisition of Semicoa Inc.’s (“Semicoa”) assets has reduced or eliminated competition for the development, manufacture, sale of certain semiconductor devices used by the U.S. military and space programs, resulting in […]

FORMER EXECUTIVE AT SOIL TREATMENT COMPANY PLEADS GUILTY TO DEFRAUDING EPA

December 18, 2008 at 12:28 am

On December 18, 2008, Zul Tejpar, a former employee at Bennett Environmental Industries (“BEI”), a Canadian soil treatment company, pled guilty for defrauding the U.S. Environmental Protection Agency (“EPA”) at the EPA-designated Superfund site, Federal Creosote in Manville, NJ and agreed to pay a criminal fine of $1 million and […]

TENTH PLEA AGREEMENT IN DOJ’S ONGOING INVESTIGATION IN MILITARY RESTRAINTS INDUSTRY

December 15, 2008 at 12:27 am

On December 15, 2008, Yong Zhu, the president of Chino, an import-export company that provides Chinese supplies to U.S. companies, pled guilty for his role in a conspiracy to commit honest services wire fraud. Mr. Zhu allegedly paid an employee of a manufacturing company that did business with Chino as […]

TWO INVESTMENT FUNDS VIOLATE ANTITURST PRE-MERGER NOTIFICATION REQUIREMENTS AS OUTLINED IN HSR ACT

December 15, 2008 at 12:25 am

On December 15, 2008, ESL Partners (“ESL”) of Greenwich, Conn., and ZAM Holdings (“ZAM”) of New York City, two investment funds with holdings in numerous companies, will pay $525,000 and $275,000, respectively, in civil penalties for violating antitrust pre-merger notification requirements under the Hart-Scott-Rodino Act of 1976 (“HSR Act”). According […]

DOJ REQUIRED DIVESTITURES IN PNC’S ACQUISTION OF NATIONAL CITY

December 11, 2008 at 12:17 am

On December 11, 2008, the Department of Justice (“DOJ”) required The PNC Financial Services Group (“PNC”) to sell 61 of National City Corporation’s (“National City”) branches totaling approximately $4.1 billion in deposits for PNC’s acquisition of National City to proceed. Fifty of the branches ($3.35 billion in deposits) are located […]

ANOTHER INDIVIDUAL PLEADS GUILTY IN DEFRAUDING FCC E-RATE PROGRAM

December 11, 2008 at 12:16 am

On December 11, 2008, Cynthia K. Ayer, Bambarg County (South Carolina) School District’s former technology coordinator, pled guilty for her role in a conspiracy to defraud the Federal Communication Commission’s E-Rate Program and agreed to serve two years in jail and pay a criminal fine of $468,496. The Telecommunication Act […]

NINTH INDIVIDUAL PLEADS GUILTY TO RIGGING BIDS AND VIOLATING THE FCPA IN DOJ’S ONGOING INVESTIGATIO IN MARINE HOSE INDUSTRY

December 10, 2008 at 12:15 am

On December 10, 2008, Misao Hioki, general manager of International Engineered Products, pled guilty to his role in a conspiracy to rig bids, fix prices and allocate market shares of marine hose in the United States. He also pled guilty for his role in another conspiracy to violate the Foreign […]