DOJ Obtains Disgorgement of Profits for Illegally Consummated Merger* On March 16, 2015, the Department of Justice (“DOJ”) and New York State Attorney General announced that they reached a settlement with Coach USA Inc., City Sights LLC and their joint venture, Twin America LLC, to remedy competition concerns in the New York City hop-on, hop-off bus tour market. This case is noteworthy because it is the first time the DOJ’s Antitrust Division sought and obtained disgorgement in a consummated merger matter. Background In March of 2009, Twin America, LLC was formed by Coach USA, Inc. and City Sights, LLC. Coach USA and City Sights were operators of double-decker tour buses that had aggressively competed against each other to attract customers, which were and are for the most part,
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The US DoJ obtains disgorgement of profits for an illegally consummated merger in the sector of city sightseeing by bus (Coach USA / City Sights / Twin America)
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