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,
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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