The US FTC votes to file a complaint in federal court after discovering a merged firm’s failure to provide complete clearance paperwork in an HSR filing and subsequent price increases after a merger in the market for pharmaceutical databases (Hearst / Medi-Span)

On April 4, 2001, the Federal Trade Commission (“FTC”) took the unusual step of voting to file a complaint in the United States District Court for the District of Columbia against The Hearst Trust, its subsidiary The Hearst Corporation, and First DataBank, a wholly owned subsidiary of The Hearst Corporation (collectively “Hearst”), seeking: (1) an order requiring Hearst to create a new competitor to replace MediSpan, Inc., which Hearst acquired, after expiration of the Hart-Scott-Rodino (“HSR”) waiting period, in 1998; (2) disgorgement of profits; and (3) civil penalties for violation of the HSR Act. This case stands as a reminder that even after a merging party clears the HSR

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Authors

  • Axinn Veltrop & Harkrider (New York)
  • Axinn Veltrop & Harkrider (Hartford)
  • Axinn Veltrop & Harkrider (New York)

Quotation

John D. Harkrider, Chad A. Landmon, Donald W. Hawthorne, The US FTC votes to file a complaint in federal court after discovering a merged firm’s failure to provide complete clearance paperwork in an HSR filing and subsequent price increases after a merger in the market for pharmaceutical databases (Hearst / Medi-Span), 15 October 2001, e-Competitions October 2001, Art. N° 53266

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