Cartel Digest

Antitrust Resources

Drawing on our vast deal and case experience, Shearman & Sterling has developed this Resources page, which provides a wide array of substantive and practical information on our antitrust and competition practice. Please review some of the informative materials we regularly publish as a value-added service to our clients, as well as information on upcoming events and details of recent activities and newsworthy items.

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FTC Increases HSR Thresholds for 2017

The US Federal Trade Commission (“FTC”) has revised and, once again, raised the thresholds for the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The HSR Act may require that parties to proposed stock or asset acquisitions exceeding certain thresholds file premerger notification reports to the FTC and the Antitrust Division of the US Department of Justice and then observe statutorily prescribed waiting periods (usually 30 days) prior to closing the transaction. The new HSR Act thresholds were published in the Federal Register on January 26, 2017 and will go into effect on February 27, 2017.

High Court Rules That Witness Interview Notes Are Not Covered by Legal Advice Privilege

In December 2016, the English High Court ruled that transcripts, notes and other records of witness interviews prepared by in-house and external counsel in the course of an internal investigation were not covered by legal advice privilege (“LAP”) and was not be covered by lawyers’ working papers privilege either.  The Court’s ruling has significant implications for the way in which companies and their legal advisers conduct internal investigations before litigation is commenced or reasonably in contemplation.