In a significant development for antitrust practitioners and dealmakers, the U.S. Court of Appeals for the Fifth Circuit denied the Federal Trade Commission’s motion for a stay pending appeal in the long standing litigation over the agency’s revised Hart-Scott-Rodino (HSR) filing requirements. The immediate consequence is a reversion to the pre-February 10, 2025 HSR filing
HSR/Antitrust/Enforcement
FTC Releases Shutdown Plan, Will Continue to Accept HSR Filings
The Federal Trade Commission (“FTC”) released a shutdown plan dated September 29, 2025, outlining how it will operate during this lapse in appropriations.
FTC Commissioners are presidential appointees and are excepted from furlough during the shutdown. According to the shutdown plan, furloughs will be issued on a rolling basis for the staff to properly address…
Treasury’s Latest Moves: Fast-Track for Foreign Investors & Outbound AI Investment Inquiry
The U.S. Department of the Treasury (“Treasury”) has been active in the context of the Committee on Foreign Investment in the United States’ (“CFIUS”) and the Outbound Investment Security Program (“OISP”). The main updates relate to: (1) Treasury’s announcement of an intent to launch a Fast Track Pilot Program under CFIUS for Foreign Investors; and (2) the review of Silicon Valley firm Benchmark Capital’s investment in Manus AI, a Chinese-linked startup.
Countdown to 2025: New HSR Premerger Disclosure Rules
By John R. Ingrassia & Jennifer C. Ok on
The Federal Trade Commission (FTC) has issued a final rule significantly expanding premerger notification and reporting requirements under the Hart-Scott-Rodino Act (HSR Act). While the scope of reportable transactions remains unchanged, the new rule will dramatically expand the disclosure requirements.
Long-Awaited Revisions to HSR Reporting Rules Set to Take Effect This January
By John R. Ingrassia, Bryan A. Cruz & Jennifer C. Ok on
The Federal Trade Commission (“FTC”) has announced a final rulemaking on a unanimous vote that will expand the reporting requirements for mergers and acquisitions under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”). The new reporting requirements will go into effect after the new year in mid-January 2025. No changes will be made…
Public Portal to Promote Healthy Competition
On Thursday, April 18, the Department of Justice (“DOJ”), the Federal Trade Commission (“FTC”), and the Department of Health and Human Services (“HHS”) announced the launch of an online portal that allows the public to report potential health care antitrust violations.
Notice of Proposed Rulemaking under the Bank Merger Act to Increase Transparency
By John R. Ingrassia & Precious L. Penny on
The U.S. Office of the Comptroller of Currency (OCC) released a notice of proposed rulemaking (NPR) seeking to “increase the transparency of the standards that apply to the agency’s review of business combinations involving national banks and Federal savings associations.” The NPR includes several amendments to the procedures for reviewing proposed bank mergers under the Bank Merger Act (BMA).
FTC Announces 2024 Thresholds Under HSR Act and Clayton Act
The Federal Trade Commission has announced revisions to HSR Act and Clayton Act Section 8 thresholds, which are indexed annually in alignment with prior year economic activity. The article identifies the adjustments that are likely to be the most relevant to our clients and reiterates several important practice tips.
Proskauer Secures Defense Win for Sanderson Farms in $7 Billion Antitrust Jury Trial
Full Defense Verdict in One of the Largest-Ever Agriculture Industry Antitrust Trials in the U.S.
NEW YORK, October 26, 2023 – Proskauer, a leading international law firm, announced today that it secured a landmark victory for Sanderson Farms in a blockbuster broiler chicken antitrust conspiracy case. Following a six-week trial, a jury in the U.S. District Court for the Northern District of Illinois delivered a full defense verdict, rejecting the Plaintiffs’ claims that alleged that Sanderson Farms participated in a supply reduction conspiracy with other producers in the broiler industry between 2008 and 2012.
Executive Order Curbs China-Bound Tech Investment as Treasury Unveils New Rules
By Erica T. Jones, John R. Ingrassia & Robert Sutton on
On August 9, 2023, President Biden signed Executive Order 14105 addressing investments by U.S. persons in certain identified national security technologies in “Countries of Concern,” initially naming The People’s Republic of China, The Special Administrative Region of Hong Kong and The Special Administrative Region of Macau. The Order, long anticipated, represents a further tightening of capital flows between the U.S. and China, following several years of increasing scrutiny on Chinese inbound investment into the U.S.