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Evaluating Leegin

Thom’s excellent post covers most of the important points in Leegin and offers a fairly comprehensive critique of what I deemed to be a surprisingly weak dissent from Justice Breyer. As we’ve noted over and over here at TOTM, the death of Dr. Miles is clearly the right outcome judged based upon the underlying antitrust ... Evaluating Leegin

My Take on Credit Suisse . . .

is here, over at eCCP, and differs somewhat from Thom’s. The takeway excerpt is: Credit Suisse has important implications for antitrust practice. The decision’s effect is to narrow the scope of antitrust law and to invite efforts by regulated industries to narrow it still further. The court’s “clearly incompatible†standard is new and (though it ... My Take on Credit Suisse . . .

Dr. Miles (1911-2007)

So Dr. Miles is dead. May he rest in peace. No great surprises in the majority opinion in Leegin. Justice Kennedy, quite rightly, emphasized points we have asserted numerous times on this blog. Most notably: The per se rule should be reserved for practices that are always, or almost always, anticompetitive. The common law nature ... Dr. Miles (1911-2007)

Dr. Miles Overruled!!!

Josh, Thom, and I all predicted correctly that Dr. Miles would be overruled. We even predicted the vote count! I had hoped that Justice Breyer would join the majority, but instead he joined with Justices Ginsberg, Souter, and Stevens (as predicted) in dissent. The opinion is here.

Predictions on Leegin

Well we’re coming down to the wire, folks. The Supreme Court is wrapping up its term any day now, and no still no word on Leegin. Tom Goldstein from SCOTUSBLOG tells us the decision’s coming on Thursday. He also predicts that the author will be Justice Stevens, who has an antitrust background and hasn’t written ... Predictions on Leegin

Whole Foods: Where's the [premium, natural and organic] beef?

John Mackey posts a remarkable public response to the FTC, including the complete text and extended exegesis of one of the inflammatory hot docs that prompted the FTC’s action.  But most amazing of all is this comment: The claims that the FTC makes in the above two paragraphs [from the FTC press release] are simply ... Whole Foods: Where's the [premium, natural and organic] beef?

Credit Suisse and "Sector Regulation": SCOTUS Picks the Right Poison

In Monday’s Credit Suisse v. Billing decision, the Supreme Court held that the federal securities laws implicitly precluded the application of antitrust law to the defendants’ alleged misconduct. The plaintiffs, buyers of newly issued securities, had accused the defendants, underwriting firms that had collectively marketed and distributed those securities, of violating Section 1 of the ... Credit Suisse and "Sector Regulation": SCOTUS Picks the Right Poison

FTC's Whole Foods complaint: still bulls**t

As Manfred reports over at the Antitrust Review, the judge has unsealed the FTC’s complaint against Whole Foods.  This unredacted version reveals an unhealthy reliance on hot docs by the FTC’s staff.  I won’t belabor the point.  But when you’re looking at marketing materials and reports to the board to identify anticompetitive intent (hmmm.  I ... FTC's Whole Foods complaint: still bulls**t

More Thoughts on Whole Foods/Wild Oats

Geoff nailed it on the Whole Foods/Wild Oats affair last week. Always a day late and a dollar short, I’ve just written my own short piece on the FTC’s effort to block the merger of these two fancy grocers. My article appears on the website of the eSapience Center for Competition Policy (eCCP). You’ll have ... More Thoughts on Whole Foods/Wild Oats

Is Antitrust/Competition Law or Industrial Organization Taught in Your Country?

My future colleague, Danny Sokol (who’ll be visiting at Missouri Law next year), is one of the authors of the fantastic Antitrust & Competition Policy Blog. Danny requested that I post the following: I am surveying countries around the world that are not OECD members and not members of the EU to determine whether and ... Is Antitrust/Competition Law or Industrial Organization Taught in Your Country?

Activist hedge funds hurt credit quality

The Financial Times reports today on a Moody’s study that finds “[a]ctivist hedge funds and other short-term shareholders are almost always bad for the credit quality of their target companies . . . .” (See here for the FT article). I’m interested in reading the Moody’s study but have been unable to find it online. ... Activist hedge funds hurt credit quality


I recently posted on SSRN one of the two articles I have committed to write for the Entrepreneurial Business Law Journal. It’s entitled PIPEs (note that I went with a “micro-title†and successfully resisted the urge (at least for now) of being “very punny,” e.g., PIPE bomb, Sewer PIPE, Burst PIPE, Smoking PIPE, PIPEline . ... PIPEs