Category: FTC
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Microsoft faces broad antitrust investigation from U.S. FTC
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The US Federal Trade Commission has opened an antitrust investigation into Microsoft Corp, looking into everything from the company’s cloud computing and software licensing businesses to its cybersecurity offerings and artificial intelligence products. After more than a year of informal interviews with competitors and business partners, antitrust officials have drafted…
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FTC Chair Lina Khan welcomes companies weighing antitrust in deals, addresses critics By Reuters
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Written by Judy Godoy and Lananh Nguyen NEW YORK (Reuters) – U.S. Federal Trade Commission Chair Lina Khan on Friday welcomed companies evaluating antitrust considerations early in the deal-making process. “When you see greater scrutiny of mergers, you see greater deterrence of illegal mergers,” Khan told the Council on Foreign…
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FTC slaps GameStop CEO with $1 million fine over Wells Fargo shares
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Gamestop Corp. CEO Ryan Cohen is set to pay a nearly $1 million fine for allegedly violating antitrust law by acquiring shares in Wells Fargo & Co. Cohen failed to file a form he was required to submit to antitrust agencies under the Hart-Scott-Rodino Act after his purchases of Wells…
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Kroger case tests FTC Chair Khan’s bid to protect workers By Reuters
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Written by Judy Godoy (Reuters) – Federal Trade Commission Chair Lina Khan’s push to use antitrust laws to protect workers is being tested in a trial that began on Monday as the agency alleges that grocery chain Kroger Inc’s proposed merger with rival Albertsons Inc would crush the bargaining power…
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Kroger-Albertsons merger hurts shoppers, FTC says at trial By Reuters
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By Judy Goodway, Deborah Bloom PORTLAND, Ore. (Reuters) – The U.S. Federal Trade Commission began a trial on Monday in its attempt to block Kroger’s $25 billion merger with Albertsons, telling a federal judge in Portland, Oregon, that the deal would eliminate competition among major grocery chains and hit consumers’…
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FTC sues Asbury Automotive, says it charged Black, Latino customers more By Reuters
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Written by Judy Godoy WASHINGTON (Reuters) – The U.S. Federal Trade Commission sued Asprey Automotive Group Inc. on Friday, alleging that three of its Texas dealerships charged black and Latino customers higher prices than others and routinely added services to customers’ contracts without their consent. Up to 75% of David…
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U.S. FTC probes Hess, Occidental execs over OPEC communication, Bloomberg reports By Reuters
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(Reuters) – The U.S. Federal Trade Commission is investigating executives from major oil companies, including Hess Company U.S. energy companies Occidental Petroleum Corp. (NYSE:O) and Diamondback Energy Inc. (NASDAQ:D) will be investigated over their contacts with OPEC officials, Bloomberg News reported on Friday, citing people familiar with the matter. The…
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FTC sues to block Tempur Sealy’s $4B purchase of Mattress Firm (NYSE:TPX)
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JHVEPhoto/iStock Editorial via Getty Images Update 1:20pm: Updated posts, added Tempur Sealy’s response. The Federal Trade Commission has filed a lawsuit to block mattress manufacturer Tempur Sealy (New York:TPX) planned to buy retailer Mattress Firm for $4 billion. Up 2.4% The regulatory authority issued an administrative complaint and issued a…
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FTC sues Adobe over subscription plans practices
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Update: The story has been updated with comments from Adobe The Federal Trade Commission said Monday that it has filed a lawsuit against Adobe (Nasdaq: Literary) and two of its executives regarding the software maker’s subscription plan practices. Photoshop maker stock It fell 3% to $510.62. The US antitrust watchdog…