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The 2018 Antitrust Year in Review full report can be found here.

1. Nick Statt, Trump Says Amazon, Facebook, and Google Represent a 'Very Antitrust Situation', THE VERGE (Aug. 30,

2018), https://www.theverge.com/2018/8/30/17802566/president-donald-trump-amazon-facebook-google-antitrust-silicon-valley-liberal-bias.

2. Diane Bartz, Trump's Antitrust Enforcer Considers Shifting Up a Gear, REUTERS (Sept. 13, 2018), https://www.reuters.com/article/us-usa-ftc/trumps-antitrust-enforcer-considers-shifting-up-a-gear-idUSKCN1LT2PQ.

3. Prepared Statement of the Federal Trade Commission: Oversight of the Federal Trade Commission before the Committee on Commerce, Science, and Transportation Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security, United States Senate 18 (Nov. 27, 2018), https://www.ftc.gov/system/files/documents/public_statements/1423835/p180101_commission_testimony_re_oversight_senate_11272018.pdf.

4. Press Release, Fed. Trade Comm'n, FTC Challenges Proposed Acquisition of Conagra's Wesson Cooking Oil Brand by Crisco owner, J.M. Smucker Co. (Mar. 5, 2018), https://www.ftc.gov/news-events/press-releases/2018/03/ftc-challenges-proposed-acquisition-conagras-wesson-cooking-oil; In re CDK Global & Auto/Mate, FTC Dkt. No. 9382 (Mar. 20, 2018), https://www.ftc.gov/enforcement/cases-proceedings/171-0156/cdk-global-automate-matter.

5. FTC v. Wilhelmsen, No. 1:18-cv-00414 (D.D.C. July 21, 2018), https://www.ftc.gov/enforcement/cases-proceedings/171-0161/wilhelm-wilhelmsen-et-al-ftc-v.

6. In re Tronox Ltd., et al., FTC Dkt. No. 9377 (Dec. 5, 2017), https://www.ftc.gov/enforcement/cases-proceedings/171-0085/tronoxcristal-usa; In re Otto Bock HealthCare North America, Inc., FTC Dkt. No. 9378 (Dec. 20, 2017), https://www.ftc.gov/enforcement/cases-proceedings/171-0231/otto-bock-healthcarefreedom-innovations.

7. Joseph Simons, Response to the Senate Committee on Commerce, Science, and Transportation Initial Questionnaire at 16 (February 14, 2018), https://www.commerce.senate.gov/public/_cache/files/6c4149af-3023-4825-90f1-3c38e279fd0d/6A0CCF409AF89DC8D5C0A84CE8730012.confidential---simons---committee-questionnaire-redacted.pdf.

8. Testimony of Makan Delrahim and Joseph Simons, Senate Judiciary Committee, Subcommittee on Antitrust, Competition Policy and Consumer Rights, Oversight of the Enforcement of the Antitrust Laws (Dec. 12, 2018), https://www.c-span.org/video/?455834-1/antitrust-enforcement-oversight.

9. Prepared Remarks of Chairman Joseph Simons Georgetown Law Global Antitrust Enforcement Symposium at 6 (Sept. 25, 2018), https://www.ftc.gov/system/files/documents/public_statements/1413340/simons_georgetown_lunch_address_9-25-18.pdf.

10. Bruce Hoffman, Remarks at Computer & Communications Industry Association, Competition Policy and the Tech Industry — What's at stake? (April 12, 2018), https://www.ftc.gov/system/files/documents/public_statements/1375444/ccia_speech_final_april30.pdf.

11. See, e.g., Tim Wu, The Case for Breaking Up Facebook and Instagram, WASHINGTON POST (Sept. 28, 2018), https://www.washingtonpost.com/outlook/2018/09/28/case-breaking-up-facebook-instagram/?utm_term=.f1b3c789c84e.

12. Jeffrey Dastin & Greg Roumeliotis, Amazon Buys Startup Ring in $1 Billion Deal to Run Your Home Security, REUTERS (Feb. 27, 2018), https://www.reuters.com/article/us-ring-m-a-amazon-com/amazon-buys-startup-ring-in-1-billion-deal-to-run-your-home-security-idUSKCN1GB2VG.

13. Press Release, Microsoft Corp., Microsoft to Acquire GitHub for $7.5 Billion (June 4, 2018), https://news.microsoft.com/2018/06/04/microsoft-to-acquire-github-for-7-5-billion/.

14. Ingrid Lunden, Apple Closes its $400M Shazam Acquisition and Says the Music Recognition App will Soon Become Ad Free, TECH CRUNCH (Sept. 24, 2018), https://techcrunch.com/2018/09/24/apple-closes-its-shazam-acquisition-and-says-the-music-recognition-app-will-soon-become-ad-free/.

15. In re CDK Global Inc. & Auto/Mate, FTC Dkt. No. 9382 (Mar. 19, 2018), https://www.ftc.gov/system/files/documents/cases/docket_no_9382_cdk_automate_part_3_complaint_redacted_pub

lic_version_0.pdf. 16. Hoffman, supra note 17. 17. Fed. Trade Comm'n, Premerger Notification Office, You Don't Have To Write a Check to Acquire an HSR-Reportable

Interest, COMPETITION MATTERS: BLOG (May 15, 2018), https://www.ftc.gov/news-events/blogs/competition-matters/2018/05/you-dont-have-write-check-acquire-hsr-reportable.

18. Press Release, Fed. Trade Comm'n, FTC Charges Executive Whose Company Owns New York Knicks, New York Rangers with Violations of U.S. Premerger Notification Requirements (Dec. 6, 2018), https://www.ftc.gov/news-events/press-releases/2018/12/ftc-charges-executive-whose-company-owns-new-york-knicks-new-york.

19. Complaint, United States v. James L. Dolan, Case No. Case 1:18-cv-02858 (D.D.C. Dec. 6, 2018), https://www.ftc.gov/system/files/documents/cases/181_0077_j_dolan_-_complaint.pdf.

20. WSGR, "I Have to File for That?"—Why Investors Should Remain Attentive to HSR Reporting Obligations(Oct. 29, 2018), https://www.wsgr.com/publications/PDFSearch/HSR-reporting.pdf.

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21. Holly Vedova, et al., Fed. Trade Comm'n, Avoiding Antitrust Pitfalls During Pre-Merger Negotiations and Due Diligence, COMPETITION MATTERS: BLOG (March 20, 2018), https://www.ftc.gov/news-events/blogs/competition-

matters/2018/03/avoiding-antitrust-pitfalls-during-pre-merger. 22. Dep't of Justice, Frequently Asked Questions Voluntary Requests and Timing Agreements (Nov.

2018), https://www.justice.gov/atr/page/file/1111331/download; Dept. of Justice, Model Voluntary Request Letter (Nov. 2018), https://www.justice.gov/atr/page/file/1111341/download.

23. Dep't of Justice, Model Timing Agreement (Nov. 2018), https://www.justice.gov/atr/page/file/1111336/download. 24. Prepared Remarks of Makan Delrahim at the 2018 Global Antitrust Enforcement Symposium, It Takes Two: Modernizing

the Merger Review Process (Sept. 25, 2018), https://www.justice.gov/opa/speech/file/1096326/download. 25. Bruce Hoffman, Timing is Everything: The Model Timing Agreement (Aug. 7, 2018), https://www.ftc.gov/news-

events/blogs/competition-matters/2018/08/timing-everything-model-timing-agreement. 26. Ian Connor and Lynda Lao, It Takes Less Time to Do a Thing Right, Competition Matters: Blog (Sept. 4,

2018): https://www.ftc.gov/news-events/blogs/competition-matters/2018/09/it-takes-less-time-do-thing-right. 27. Prepared Remarks of Bruce Hoffman at Credit Suisse, Vertical Merger Enforcement at the FTC (Jan. 10,

2018), https://www.ftc.gov/system/files/documents/public_statements/1304213/hoffman_vertical_merger_speech_final.pdf. 28. Flavia Fortes, FTC Accepts Use of Behavioral Remedies in "Rare, Very Limited" Circumstances Simons Says, MLex (June

20, 2018). 29. Statement of Bureau of Competition Deputy Director Ian Conner on the Commission's Consent Order in the Acquisition of

Orbital ATK, Inc. by Northrop Grumman Corp., File No. 181-0005 (June 5, 2018), https://www.ftc.gov/system/files/documents/cases/1810005_northrop_bureau_statement_6-5-18.pdf.

30. Press Release, Dep't of Justice, Justice Department Challenges AT&T/DirecTV's Acquisition of Time Warner (Nov. 20, 2017), https: //www.justice.gov/opa/pr/justice-department-challenges-attdirectv-s-acquisition-time-warner.

31. United States v. AT&T Inc. et al., No. 17-2511 (D.D.C. 2018). 32. Press Release, Dep't of Justice Antitrust Div., United States v. AT&T/TWX Reply Brief of Appellate United States of

America, (Oct. 11, 2018), https://www.justice.gov/atr/press-statement/358198. 33. Press Release, Dep't of Justice Antitrust Div., Justice Department Secures Largest Negotiated Merger Divestiture Ever to

Preserve Competition Threatened by Bayer's Acquisition of Monsanto (May 29, 2018), https://www.justice.gov/opa/pr/justice-department-secures-largest-merger-divestiture-ever-preserve-competition-threatened.

34. In re Northrop Grumman and Orbital ATK, FTC Dkt. No. C-4652 (Jun.5, 2018), https://www.ftc.gov/enforcement/cases-proceedings/181-0005-c-4652/northrop-grumman-orbital-atk.

35. Id. 36. Akorn, Inc. v. Fresenius Kabi AG, C.A. No. 2018-0300-JTL at 114 (Del. Ch. Oct. 1, 2018) ("Akorn also relies on Fresenius's

specific commitment to 'take all actions necessary' to secure antitrust clearance, which the Merger Agreement states shall require efforts that 'shall be unconditional and shall not be qualified in any manner.').

37. Id. at 234-35. 38. Id. at 240-41. 39. Id. at 235. 40. Id. at 242. 41. Id. ("[B]ecause Fresenius changed course in approximately a week and returned to Option1, the breach was not material."). 42. Id. at 245. 43. Complaint, Tribune Media Co. v. Sinclair Broadcast Group, Inc., C.A. No. 2018-0593, 2018 WL 3777211 (Del. Ch. Aug. 9,

2018).

44. Id. at ¶¶ 3-4. 45. Id. 46. Id. at ¶¶ 7-8, 138. 47. Id.; The complaint names other examples of Sinclair's alleged negotiation missteps including telling the head of the

Antitrust Division "sue me," accusing DOJ of "completely misunderstand[ing] the industry," and calling the agency head "more regulatory than anyone before you, under any other president for 21 years."

48. Id. at ¶ 122. 49. Defendant's Counterclaim, Tribune Media Co. v. Sinclair Broadcast Group, Inc., No. 2018-0593, 2018 WL 3777211 (Del.

Ch. Aug. 29, 2018).

50. Id. at ¶ 14. 51. Id. 52. Margrethe Vestager, Comm'r, Eur. Comm'n, Remarks at Lisbon Web Summit, Building a Fairer Digital World (Nov. 7,

2018), https://ec.europa.eu/commission/commissioners/2014-2019/vestager/announcements/building-fairer-digital-world_en.

53. Press Release, European Comm'n, Mergers: Commission Approves Acquisition of Linkedin by Microsoft Subject To Conditions (Dec. 6, 2016), http://europa.eu/rapid/press-release_IP-16-4284_en.htm.

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54. Press Release, European Comm'n, Mergers: Commission Clears Apple's Acquisition of Shazam (Sept. 6, 2018), http://europa.eu/rapid/press-release_IP-18-5662_en.htm.

55. European Comm'n Press Release IP/18/2282, Mergers: Commission clears Bayer's acquisition of Monsanto, subject to conditions (Mar. 21, 2018), http://europa.eu/rapid/press-release_IP-18-2282_en.htm.

56. Margrethe Vestager, Comm'r, Eur. Comm'n, Reply to a Petition (Aug. 22, 2017), http://ec.europa.eu/competition/mergers/cases/additional_data/m8084_4719_6.pdf.

57. Mergers: Commission clears Bayer's acquisition of Monsanto Subject to Conditions, supra note 63. 58. European Commission Press Release IP/18/1442, Mergers: Commission Clears Merger between Essilor and Luxottica

(Mar. 1, 2018), http://europa.eu/rapid/press-release_IP-18-1442_en.htm. 59. Xinhua News Agency, The Reform Plan of the Institutions of the State Council (March 17, 2018),

http://www.gov.cn/guowuyuan/2018-03/17/content_5275116.htm. 60. Jodi Xu Klein, Qualcomm Drops US$$44 Billion NXP Bid after Failing to Secure Chinese Antitrust Regulator's Nod, SOUTH

CHINA MORNING POST (July 26, 2018), https://www.scmp.com/business/companies/article/2156885/qualcomm-prepares-drop-us44-billion-bid-nxp-semiconductors-china.

61. Andrew McClean, Essilor and Luxottica Merger Receives EU and US Approval (March 2, 2018), https://www.aop.org.uk/ot/industry/eyewear-and-lenses/2018/03/02/essilor-and-luxottica-merger-receives-eu-and-us-approval.

62. Xinhua News Agency, Bayer Begins with Monsanto Integration after Finalizing Merger (Aug. 16, 2018), http://www.xinhuanet.com/english/2018-08/16/c_137396170.htm.

63. Douglas Busvine, Chinese Regulator Signs Off on Linde-Praxair Merger, REUTERS (Sept. 30, 2018), https://www.reuters.com/article/us-linde-m-a-praxair/chinese-regulator-signs-off-on-linde-praxair-merger-idUSKCN1MA0E8.

64. Press Release, Fed. Trade Comm'n, FTC Commissioners Find that 1-800 Contacts Unlawfully Harmed Competition in Online Search Advertising Auctions, Restricting the Availability of Truthful Advertising to Consumers (Nov. 14,

2018) https://www.ftc.gov/news-events/press-releases/2018/11/ftc-commissioners-find-1-800-contacts-unlawfully-harmed. 65. Final Order, In re 1-800 Contacts, Inc., FTC Dkt. No. 9372 (Nov 7.

2018), https://www.ftc.gov/system/files/documents/cases/docket_no_9372_commission_final_order.pdf. 66. Commission Opinion, In re 1-800 Contacts, Inc., FTC Dkt. No. 9372 at *18 (Nov 7.

2018), https://www.ftc.gov/system/files/documents/cases/docket_no_9372_opinion_of_the_commission_redacted_public_version.pdf.

67. Id. at 2. 68. Id. at 12-15. 69. Id. at 56 (holding that "Respondent has not presented sufficient evidence to establish the validity of a procompetitive

benefit that might outweigh the anticompetitive harm of the Challenged Agreements, and that any such benefit could have been achieved by less anticompetitive means").

70. Concurring Opinion of Commissioner Rebecca Kelly Slaughter, In re 1-800 Contacts, Inc., FTC Dkt. No. 9372 at *1-2 (Nov 7. 2018), https://www.ftc.gov/system/files/documents/public_statements/1421321/docket_no_9372_concurring_opinion_of_commissioner_slaughter_public_0.pdf.

71. Dissenting Opinion of Commissioner Noah Joshua Phillips, In re 1-800 Contacts, Inc., FTC Dkt. No. 9372 at *1, 2, 10, (Nov 7. 2018), https://www.ftc.gov/system/files/documents/public_statements/1421309/docket_no_9372_dissenting_statement_of_commissioner_phillips_redacted_public_version.pdf.

72. Professional Real Estate Investors, Inc. v. Columbia Pictures Industries, Inc. 508 U.S. 49, 60-61 (1993).

73. Brief of Fed. Trade Comm'n as Amicus Curiae, Takeda Pharm. v. Zydus Pharm. Inc., No. 18-cv-01994, 2018 WL 6649732 (D.N.J. June 7, 2018), https://www.ftc.gov/system/files/documents/amicus_briefs/takeda-pharmaceutical-company-limited-et-al-v-zydus-pharmaceuticals-usa-inc-et-al/taketa_motion_for_leave_to_file_amicus.pdf.

74. Press Release, Fed. Trade Comm'n, FTC Amicus Brief Urges Federal District Court Not to Categorically Exempt Hatch Waxman Suits from Antitrust Scrutiny as Potential Sham Litigations (June 7, 2018), https://www.ftc.gov/news-events/press-releases/2018/06/ftc-amicus-brief-urges-federal-district-court-not-categorically.

75. Id. 76. Id. 77. Brief of Fed. Trade Comm'n as Amicus Curiae, Takeda Pharm. v. Zydus Pharm, supra note 80.

78. Id. 79. Id.

80. Complaint, FTC v. AbbVie Inc., Case No. 14-cv-05151-HB, at ¶¶ 79-100 (E.D. Pa. Sept. 8, 2014), https://www.ftc.gov/system/files/documents/cases/140908abbviecmpt1.pdf.

81. Id. ¶¶ 112-132.

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82. See Findings of Fact and Conclusions of Law, FTC v. AbbVie Inc., No. 14-cv-05151-HB, at *1-2 n.1 (E.D. Pa. June 29, 2018), https://www.ftc.gov/system/files/documents/cases/abbvie_findings_and_order_6-29-18.pdf.

83. Fed. Trade Comm'n v. AbbVie, No. 14-cv-05151, 2017 WL 4098688, at *11 (E.D. Pa. Sept. 15, 2017).

84. Findings of Fact and Conclusions of Law, Fed. Trade Comm'n v. AbbVie Inc., supra note 89, at *34. 85. Id. at 33-39. 86. Id. at 52-53. 87. Press Release, Fed. Trade Comm'n, Statement of FTC Chairman Joe Simons Regarding Federal Court Ruling in FTC v.

AbbVie (June 29, 2018), https://www.ftc.gov/news-events/press-releases/2018/06/statement-ftc-chairman-joe-simons-regarding-federal-court-ruling.

88. Press Release, Fed. Trade Comm'n, FTC Announces Hearings on Competition and Consumer Protection in the 21st Century (June 20, 2018), https://www.ftc.gov/news-events/press-releases/2018/06/ftc-announces-hearings-competition-consumer-protection-21st.

89. Id. 90. See FTC HEARINGS ON COMPETITION AND CONSUMER PROTECTION IN THE 21ST

CENTURY, https://www.ftc.gov/policy/hearings-competition-consumer-protection (last visited Dec. 21, 2018). 91. Id. 92. Press Release, Dep't of Justice Antitrust Div., Department of Justice Announces Initiative to Terminate "Legacy" Antitrust

Judgments (Apr. 25, 2018), https://www.justice.gov/opa/pr/department-justice-announces-initiative-terminate-legacy-antitrust-judgments.

93. See Dep't of Justice Antitrust Div., Judgment Termination Initiative, https://www.justice.gov/atr/JudgmentTermination (last

visited Dec. 21, 2018). 94. See Order Terminating Final Judgements, U.S. v. Am. Amusement Ticket Mfrs. Ass'n, No. 1:18-mc-00091-BAH (D.D.C.

Aug. 15, 2018). 95. See Press Release, Dep't of Justice Antitrust Div., Department of Justice Opens Review of Paramount Consent Decrees

(Aug. 2, 2018), https://www.justice.gov/opa/pr/department-justice-opens-review-paramount-consent-decrees. 96. See Dep't of Justice Antitrust Div., Paramount Consent Decree Review Public Comments

2018, https://www.justice.gov/atr/paramount-consent-decree-review-public-comments-2018 (last visited Dec. 21, 2018). 97. See Press Release, Dep't of Justice Antitrust Div., Assistant Attorney General Makan Delrahim Delivers Remarks at the

Antitrust Division's Second Roundtable on Competition and Deregulation (Apr. 26, 2018), https://www.justice.gov/opa/speech/assistant-attorney-general-makan-delrahim-delivers-remarks-antitrust-divisions-second (noting ASCAP and BMI decrees as the "perhaps most prominent[]" of the "perpetual decrees"). As part of the recently passed Music Modernization Act, Congress directed that the DOJ report to Congress on any review of the ASCAP and BMI decrees and notify Congress ahead of any motion to terminate or modify the decrees. See Orrin G. Hatch—Bob Goodlatte Music Modernization Act, H.R. 1551, § 105 (2018).

98. DOJ Meets With Radio Over Fate Of ASCAP-BMI Decrees, INSIDE RADIO (Dec. 14, 2018), http://www.insideradio.com/free/doj-meets-with-radio-over-fate-of-ascap-bmi-decrees/article_eb82a596-ff7a-11e8-86c5-339c4b1ce3dd.html.

99. Press Release, Dep't of Justice, Justice Department Requires Six Broadcast Television Companies to Terminate and Refrain from Unlawful Sharing of Competitively Sensitive Information (Nov. 13, 2018), https://www.justice.gov/opa/pr/justice-department-requires-six-broadcast-television-companies-terminate-and-refrain-unlawful.

100. Ted Johnson, Justice Department Investigating Broadcasters Over Ad Sales Communications, VARIETY (July 26, 2018), https://variety.com/2018/politics/news/sinclair-tribune-antitrust-investigation-1202887668/.

101. Complaint, U.S. v. Sinclair, No. 18-cv-02609 at ¶¶ 16-21 (D.D.C. Nov. 13, 2018).

102. Id. at 6-7. 103. Id. 104. Press Release, Dep't of Justice, Justice Department Requires Six Broadcast Television Companies to Terminate and

Refrain from Unlawful Sharing of Competitively Sensitive Information (Nov. 13, 2018), https://www.justice.gov/opa/pr/justice-department-requires-six-broadcast-television-companies-terminate-and-refrain-unlawful.

105. Comm'n Decision, Case AT.40220, Qualcomm (exclusivity payments) (January 24, 2018), no public version available.

106. Comm'n Decision, Case C-413/14 P, Intel Corp., Inc. v. Commission (September 6, 2017).

107. Id. at ¶¶ 1002-1155. 108. European Commission Press Release IP-18-421, Antitrust: Commission Fines Qualcomm €997 Million for Abuse of

Dominant Market Position (January 24, 2018), http://europa.eu/rapid/press-release_IP-18-421_en.htm. 109. Press Release, Qualcomm, Qualcomm to Appeal European Commission Decision Regarding Modem Chip Agreement

(Jan. 24, 2018), https://www.qualcomm.com/news/releases/2018/01/24/qualcomm-appeal-european-commission-decision-regarding-modem-chip-agreement

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110. European Commission Press Release IP/18/4581, Antitrust: Commission fines Google €4.34 billion for illegal practices regarding Android mobile devices to strengthen dominance of Google's search engine (July 18, 2018), http://europa.eu/rapid/press-release_IP-18-4581_en.htm.

111. Id. 112. Id. 113. Id. 114. Id. 115. Hiroshi Lockheimer, Complying With the EC's Android Decision, GOOGLE — THE KEYWORD (Oct. 16,

2018), https://www.blog.google/around-the-globe/google-europe/complying-ecs-android-decision/. 116. European Commission Press Release IP/18/4601, Antitrust: Commission Fines Four Consumer Electronics Manufacturers

for Fixing Online Resale Prices (July 24, 2018), http://europa.eu/rapid/press-release_IP-18-4601_en.htm. 117. Leegin Creative Leather Products v. PSKS, 551 U.S. 877 (2007). 118. European Comm'n Guidelines on Vertical Restraints, 2010 O.J. (C 130) 1, para. 223.

119. Comm'n decision, Case AT.40465 — ASUS (July 24, 2018), http://ec.europa.eu/competition/antitrust/cases/dec_docs/40465/40465_337_3.pdf.

120. Comm'n decision, Case AT.40469 — DENON & MARANTZ (July 24, 2018), http://ec.europa.eu/competition/antitrust/cases/dec_docs/40469/40469_329_3.pdf.

121. Comm'n decision, Case AT.40181 - PHILIPS (July 24, 2018), http://ec.europa.eu/competition/antitrust/cases/dec_docs/40181/40181_417_3.pdf.

122. Comm'n decision, Case AT.40182 - PIONEER (July 24, 2018), http://ec.europa.eu/competition/antitrust/cases/dec_docs/40182/40182_370_3.pdf.

123. European Commission Press Release IP/18/4601, supra note 124. 124. Id. 125. European Commission Press Release 18-4665, Statement by Commissioner Vestager on Commission Decision To Impose

Fines On Four Consumer Electronics Manufacturers For Fixing Online Resale Prices (July 24, 2018), http://europa.eu/rapid/press-release_STATEMENT-18-4665_en.htm.

126. Aoife White, Amazon Probed by EU on Data Collection from Rival Retailers, BLOOMBERG (September 19, 2018), https://www.bloomberg.com/news/articles/2018-09-19/amazon-probed-by-eu-on-data-collection-from-rival-retailers.

127. Id. 128. Emma Thomasson & Matthias Inverardi, Amazon's Treatment of Sellers Comes Under Scrutiny in

Germany, REUTERS (November 29, 2018), https://www.reuters.com/article/us-amazon-com-germany/amazons-treatment-

of-sellers-comes-under-scrutiny-in-germany-idUSKCN1NY10H. 129. Press Release, Competition and Markets Authority, CMA Appoints Stefan Hunt to Top Digital Role (May 18,

2018), https://www.gov.uk/government/news/cma-appoints-stefan-hunt-to-top-digital-role. 130. Leah Nylen, Lisa Phelan, 'Trailblazer' for Women in Antitrust, Leaves DOJ After 32 years, MLex (June 15,

2018) https://mlexmarketinsight.com/insights-center/editors-picks/antitrust/north-america/lisa-phelan-trailblazer-for-women-in-antitrust-leaves-doj-after-32-years; Ryan Lovelace, DOJ Antitrust Vet Joins Morrison & Foerster in DC, THE NAT'L LAW JOURNAL (July 11, 2018), https://www.law.com/nationallawjournal/2018/07/11/doj-antitrust-vet-joins-morrison-foerster-in-dc/.

131. Sections and Office Directory, U.S. DEPT. OF JUSTICE, https://www.justice.gov/atr/sections-and-offices-directory (last updated Dec. 11, 2018).

132. An eighth company, Detloff Marketing, was indicted on mail and wire fraud charges connected to a bid-rigging conspiracy, but DOJ did not allege a standalone Sherman Act violation. Detloff remains scheduled for trial in early 2019.

133. By comparison, the DOJ levied $1.3 billion in fines in 2014, $3.6 billion in 2015, and $399 million in 2016. Criminal Enforcement Trends Charts, U.S. DEPT. OF JUSTICE, https://www.justice.gov/atr/criminal-enforcement-fine-and-jail-charts,(last updated Mar. 12, 2018).

134. Leah Nylen, Comment: US corporate cartel charges dip for third straight year, MLEX (Oct. 1, 2018), https://www.mlex.com/GlobalAntitrust/DetailView.aspx?cid=1027151&siteid=191&rdir=1 In FY 2017, for instance, thirty individuals were sentenced to prison terms for antitrust crimes, resulting in the highest number of prison sentences imposed for antitrust violations since 2012. Division Update Spring 2018, , Doing Hard Time: The Antitrust Division Sets Record In Number of Individuals Sentenced and In Number of Criminal Trials, U.S. DEPT. OF JUSTICE, https://www.justice.gov/atr/division-operations/division-update-spring-2018/doing-hard-time-antitrust-division-sets-records-number-individuals-sentenced-and-number-criminal (last updated Apr. 10, 2018).

135. Criminal Enforcement Trends Charts, supra note 141. 136. Justice News: Assistant Attorney General Makan Delrahim Remarks at the American Bar Association Antitrust Section Fall

Forum, U.S. DEPT. OF JUSTICE (Nov. 15, 2018) https://www.justice.gov/opa/speech/assistant-attorney-general-makan-delrahim-remarks-american-bar-association-antitrust.

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137. Press Release, U.S. Dept. of Justice, Mississippi Real Estate Investors Plead Guilty to Conspiracy to Rig Bids at Public Foreclosure Auctions (Feb. 15, 2018), https://www.justice.gov/opa/pr/mississippi-real-estate-investors-plead-guilty-conspiracy-rig-bids-public-foreclosure.

138. Plea Agreement, United States v. Shannon Boykin, 1:18-cr-00013-LG-RHW, (S.D. Miss. Feb. 2018) https://www.justice.gov/atr/case-document/file/1055246/download; see also Plea Agreement, United States v. Jason Boykin, 1:18-cr-00014-LG-JCG, (S.D. Miss. Feb. 2018), https://www.justice.gov/atr/case-document/file/1054956/download.

139. Press Release, U.S. Dep't. of Justice, Mississippi Real Estate Investors Plead Guilty to Conspiring to Rig Bids at Public Foreclosure Auctions (Apr. 10, 2018). https://www.justice.gov/opa/pr/mississippi-real-estate-investors-plead-guilty-conspiring-rig-bids-public-foreclosure.

140. Press Release, U.S. Dep't. of Justice, Sixth Mississippi Real Estate Investor Pleads Guilty to Conspiring to Rig Bids at Public Foreclosure Auctions (June 18, 2018), https://www.justice.gov/opa/pr/sixth-mississippi-real-estate-investor-pleads-guilty-conspiring-rig-bids-public-foreclosure.

141. Press Release, U.S. Dep't. of Justice, Seventh Mississippi Real Estate Investor Pleads Guilty to Conspiring to Rig Bids at Public Foreclosure Auctions (July 19, 2018), https://www.justice.gov/opa/pr/seventh-mississippi-real-estate-investor-pleads-guilty-conspiring-rig-bids-public-foreclosure.

142. Press Release, U.S. Dep't of Justice, Two Additional Mississippi Real Estate Investors Plead Guilty to Conspiracy to Rig Bids at Public Foreclosure Auctions (Nov. 27, 2018), https://www.justice.gov/opa/pr/two-additional-mississippi-real-estate-investors-plead-guilty-conspiracy-rig-bids-public.

143. Press Release, U.S. Dep't. of Justice, Real Estate Investor Sentenced to 30 Months in Prison for Rigging Bids at Northern California Public Foreclosure Auctions (Mar. 21, 2018), https://www.justice.gov/opa/pr/real-estate-investor-sentenced-30-months-prison-rigging-bids-northern-california-public.

144. Press Release, U.S. Dep't. of Justice, Real Estate Investor Pleads Guilty to Bid Rigging at Online Auctions (Aug. 9, 2018), https://www.justice.gov/opa/pr/real-estate-investor-pleads-guilty-bid-rigging-online-auctions.

145. Press Release, U.S. Dep't of Justice, Third Real Estate Investor Pleads Guilty to Bid Rigging in Florida Online Foreclosure Auctions (Nov. 9, 2018), https://www.justice.gov/opa/pr/third-real-estate-investor-pleads-guilty-bid-rigging-florida-online-foreclosure-auctions.

146. Press Release, U.S. Dep't. of Justice, Minnesota Real Estate Company, Realtor, And Accountant Indicted For Mail And Wire Fraud Scheme Affecting U.S. Financial Institutions (Aug. 31, 2018), https://www.justice.gov/opa/pr/minnesota-real-estate-company-realtor-and-accountant-indicted-mail-and-wire-fraud-scheme.

147. Press Release, Real Estate Investor Pleads Guilty to Bid Rigging at Online Auctions, supra note 152. 148. Press Release, Minnesota Real Estate Company, Realtor, And Accountant Indicted for Mail and Wire Fraud Scheme

Affecting U.S. Financial Institutions, supra note 154. 149. Bob Van Voris, Lananh Nguyen, and Chris Dolmetsch, British Cartel Traders Acquitted of Rigging Currency

Market, BLOOMBERG (Oct. 26, 2018, 4:09 PM), https://www.bloomberg.com/news/articles/2018-10-26/jury-rejects-charge-that-chatroom-was-used-to-fix-fx-prices.

150. Press Release, U.S. Dept. of Justice, Two Former Deutsche Bank Traders Convicted for Role in Scheme to Manipulate a Critical Global Benchmark Interest Rate (Oct. 17, 2018), https://www.justice.gov/opa/pr/two-former-deutsche-bank-traders-convicted-role-scheme-manipulate-critical-global-benchmark.

151. Press Release, U.S. Dept. of Justice, Three South Korean Companies Agree to Plead Guilty and to Enter Into Civil Settlements for Rigging Bids on United States Department of Defense Fuel Supply Contracts (Nov. 14, 2018), https://www.justice.gov/opa/pr/three-south-korean-companies-agree-plead-guilty-and-enter-civil-settlements-rigging-bids.

152. Press Release, U.S. Dept. of Justice, Bumble Bee CEO Indicted for Price Fixing Fourth Individual Charged in Ongoing Investigation, (May 16, 2018), https://www.justice.gov/opa/pr/bumble-bee-ceo-indicted-price-fixing.

153. Division Update Spring 2018, Cartels Beware: The Antitrust Division Launches Criminal Investigations in Key Industries, U.S. DEPT. OF JUSTICE (Apr. 10, 2018), https://www.justice.gov/atr/division-operations/division-update-spring-2018/cartels-beware-antitrust-division-launches-criminal-investigations-key-industries; see also Press Release, U.S. Dept. of Justice, StarKist Co. Agrees to Plead Guilty for Price Fixing (Oct. 18, 2018), https://www.justice.gov/opa/pr/starkist-co-agrees-plead-guilty-price-fixing.

154. Press Release, U.S. Dept. of Justice, StarKist Co. Agrees to Plead Guilty for Price Fixing (Oct. 18, 2018), https://www.justice.gov/opa/pr/starkist-co-agrees-plead-guilty-price-fixing.

155. Press Release, U.S. Dept. of Justice, Japanese Auto Parts Company Pleads Guilty to Antitrust Conspiracy Involving Steel Tubes (May 31, 2018), https://www.justice.gov/opa/pr/japanese-auto-parts-company-pleads-guilty-antitrust-conspiracy-involving-steel-tubes.

156. See Division Update Spring 2018, Cartels Beware: The Antitrust Division Launches Criminal Investigations in Key Industries, U.S. DEPT. OF JUSTICE (Apr. 10, 2018), https://www.justice.gov/atr/division-operations/division-update-spring-2018/cartels-beware-antitrust-division-launches-criminal-investigations-key-industries.

157. Press Release, U.S. Dept. of Justice, Former Executive Admits Guilt in Antitrust Conspiracy Affecting Water Treatment Chemicals (Jan. 3, 2018), https://www.justice.gov/opa/pr/former-executive-admits-guilt-antitrust-conspiracy-affecting-water-treatment-chemicals.

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158. Amena H.Saiyid, Price Gouging Alleged of Makers of Water Treatment, BLOOMBERG LAW (Nov. 2, 2017), https://news.bloomberglaw.com/corporate-law/price-gouging-alleged-of-makers-of-water-treatment-chemical.

159. Press Release, U.S. Dep't of Justice, School Bus Company Owners Sentenced to Prison for Bid Rigging and Fraud Involving Puerto Rico Public School Bus Services (Feb. 6, 2018), https://www.justice.gov/opa/pr/four-school-bus-company-owners-sentenced-jail-bid-rigging-and-fraud-involving-puerto-rico.

160. Press Release, U.S. Dep't of Justice, Two Freight Forwarding Executives Arrested in Miami (July 3, 2018), https://www.justice.gov/opa/pr/two-freight-forwarding-executives-arrested-miami.

161. Press Release, U.S. Dep't. of Justice, Two Freight Forwarding Executives Plead Guilty To Fixing Prices (Nov. 30, 2018), https://www.justice.gov/opa/pr/two-freight-forwarding-executives-plead-guilty-fixing-prices.

162. Office of Public Affairs, Principal Deputy Assistant Attorney General Andrew C. Finch Delivers Remarks at the Heritage Foundation, U.S. DEP'T OF JUSTICE (Jan. 26, 2018), https://www.justice.gov/opa/speech/principal-deputy-assistant-attorney-general-andrew-c-finch-delivers-remarks-heritage.

163. Press Release, U.S. Dep't. of Justce, Justice Department Requires Knorr and Wabtec to Terminate Unlawful Agreements Not to Compete for Employees (Apr. 3, 2018), https://www.justice.gov/opa/pr/justice-department-requires-knorr-and-wabtec-terminate-unlawful-agreements-not-compete.

164. U.S. Dep't. of Justice and Federal Trade Comm'n, Antitrust Guidance for Human Resource Professionals (Oct. 2016), https://www.justice.gov/atr/file/903511/download.

165. Richard Vanderford, Generic Drug Investigation Continues, DOJ Says, MLEX (Nov. 20, 2018), http://www.mlex.com/GlobalAntitrust/DetailView.aspx?cid=1042476&siteid=191&rdir=1.

166. Id. 167. Joshua Sisco, Generic Drugmakers Scrutinized for Alleged False Claims Act Violations Related to Price-fixing, MLEX (July

6, 2018), https://mlexmarketinsight.com/insights-center/editors-picks/antitrust/north-america/generic-drugmakers-scrutinized-for-alleged-false-claims-act-violations-related-to-price-fixing; see also BRIEF-US Justice Department Warns It May Sue Generic Drugmakers over Price-fixing, THEPHARMALETTER (Jan. 20, 2018), https://www.thepharmaletter.com/in-brief/brief-us-justice-department-warns-it-may-sue-generic-drugmakers-over-price-fixing; Leah Nylen and Joshua Sisco, State Lawsuit Offers Insight into US DOJ Generic Drug Probe, MLEX (Nov. 2, 2017), https://mlexmarketinsight.com/insights-center/editors-picks/antitrust/north-america/state-lawsuit-offers-insight-into-us-doj-generic-drug-probe; Charles Lane, Probe Into Generic Drug Price Fixing Set To Widen, NPR (Mar. 7, 2018), https://www.npr.org/2018/03/07/590217561/probe-into-generic-drug-price-fixing-set-to-widen.

168. Public Roundtable on Criminal Antitrust Compliance, Roundtable Agenda, U.S. DEPT. OF JUSTICE https://www.justice.gov/atr/public-roundtable-antitrust-criminal-compliance#agenda (last updated Sept. 10, 2018).

169. Public Roundtable Discussion Series on Criminal Antitrust Compliance (Thursday April 26th) Session 1 of 2, Panel 1, U.S. DEPT. OF JUSTICE (Apr. 26, 2018), https://www.justice.gov/atr/video/public-roundtable-discussion-series-criminal-antitrust-compliance-thursday-april-26th.

170. Justice News, Principal Deputy Assistant Attorney General Andrew Finch Delivers Remarks at "Antitrust in the Financial Sector: Hot Issues & Global Perspectives", U.S. DEPT. OF JUSTICE (May 2, 2018), https://www.justice.gov/opa/speech/principal-deputy-assistant-attorney-general-andrew-finch-delivers-remarks-antitrust.

171. On May 20, 2015, Barclays pleaded guilty to conspiring to manipulate prices in the FOREX market. Barclays received a modest reduction in its fine because of compliance efforts, marking the first time the Antitrust Division recommended that a defendant in a cartel investigation receive a fine reduction because of changes to its compliance and ethics program. A few months later, on September 16, 2015, Kayaba pleaded guilty to conspiring to fix prices in shock absorbers installed in cars and motorcycles. Kayaba similarly received a reduction at sentencing, the second such time the DOJ recognized offered such credit.

172. Principal Deputy Assistant Attorney General Andrew Finch Delivers Remarks at "Antitrust in the Financial Sector: Hot Issues & Global Perspectives," supra note 178.

173. Brent Snyder, Compliance is a Culture, Not Just a Policy, U.S. DEPT. OF JUSTICE (Sep. 9, 2014), https://www.justice.gov/atr/file/517796/download.

174. There are many useful resources on the leniency program at the DOJ's website at https://www.justice.gov/atr/leniency-program. In particular, we recommend DOJ's "Frequently Asked Questions" document, revised in 2017, available at https://www.justice.gov/atr/page/file/926521/download.

175. Scott D. Hammond, Detecting and Deterring Cartel Activity Through An Effective Leniency Program, U.S. DEPT. OF JUSTICE (Nov. 21, 2000), https://www.justice.gov/atr/speech/detecting-and-deterring-cartel-activity-through-effective-leniency-program.

176. See Antitrust Criminal Penalty Enhancement and Reform Act of 2004, Pub. L. No. 108-237, tit. II, 118 Stat. 661 (2004). 177. Justice News, Acting Deputy Assistant Attorney General Richard A. Powers Delivers Remarks at the Organisation for

Economic Co-operation and Development (OECD) in Paris, U.S. DEPT. OF JUSTICE (Jun. 5, 2018), https://www.justice.gov/opa/speech/acting-deputy-assistant-attorney-general-richard-powers-delivers-remarks-organisation.

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178. Id. 179. Id. 180. Id. 181. Under the per se standard, criminal antitrust offenses such as price fixing, bid rigging, and market allocation agreements

among competitors are unlawful by virtue of their very existence; the DOJ does not need to establish that such agreements are anticompetitive. The per se standard stands in contrast to the rule of reason standard applied to other potential restraints on competition including in cases of mergers, acquisitions, and joint ventures. Under the rule of reason, the procompetitive benefits of the restraint are weighed against any potential anticompetitive effects.

182. See United States v. Socony-Vacuum Oil Co., 310 U.S. 150, 218 (1940). 183. United States v. Kemp & Assocs., 907 F.3d 1264, 1275 (10th Cir. 2018). 184. Justice News, Principal Deputy Assistant Attorney General Andrew Finch Delivers Remarks at the ABA Antitrust in Asia

Conference in Seoul, U.S. DEPT. OF JUSTICE (May 31, 2018), https://www.justice.gov/opa/speech/principal-deputy-assistant-attorney-general-andrew-finch-delivers-remarks-aba-antitrust.

185. Justice News, Principal Deputy Assistant Attorney General Andrew C. Finch Delivers Remarks at the Heritage Foundation, U.S. DEPT. OF JUSTICE (Jan. 23, 2018), https://www.justice.gov/opa/speech/principal-deputy-assistant-attorney-general-andrew-c-finch-delivers-remarks-heritage.

186. Id. 187. Org. for Econ. Co-operation and Dev. [OECD],, Investigative Power in Practice — Contribution from Brazil, Session IV,

DAF/COMP/GF/WD(2018)21 (Nov. 30, 2018), https://one.oecd.org/document/DAF/COMP/GF/WD(2018)21/en/pdf. 188. Competition Bureau Canada, Launch of revised Immunity and Leniency Programs will enhance effective enforcement and

prosecution, GOV'T OF CANADA (Sept. 27, 2018), https://www.canada.ca/en/competition-bureau/news/2018/09/launch-of-revised-immunity-and-leniency-programs-will-enhance-effective-enforcement-and-prosecution.html; see also Immunity and Leniency Programs under the Competition Act, Technical Guidance Documents, GOV'T OF CANADA, http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/04391.html (last updated Sep. 21, 2018).

189. Id. 190. Id. 191. Under the previous guidelines, the first-in leniency applicant received 50 percent off of the base fine, the second-in

applicant received 30 percent off the base fine, and all subsequent applicants received an unspecified reduction, not exceeding 30 percent off the base fine.

192. Public Roundtable Discussion Series on Criminal Antitrust Compliance (Monday April 9th) Part 3 of 3, Panel 3, U.S. DEPT. OF JUSTICE (Apr. 9, 2018), https://www.justice.gov/atr/video/public-roundtable-discussion-series-criminal-antitrust-compliance-monday-april-9th-part-3.

193. Id. 194. American Bar Association. Panel, The State of Cross-Border Criminal and Cartel Enforcement: Enforcement Trends in the

U.S. and Canada (June 14, 2018) (unrecorded teleconference).

195. CBC Radio, Bread Price-fixing: Investigation into At Least 7 Companies, CBC, (Dec. 21, 2017) https://www.cbc.ca/radio/thecurrent/the-current-for-december-21-2017-1.4458465/bread-price-fixing-investigation-into-at-least-7-companies-1.4458469

196. Press Release, Competition Bureau Canada, Criminal charges laid against four individuals for bid-rigging in the engineering industry (June 26, 2018), https://www.canada.ca/en/competition-bureau/news/2018/06/criminal-charges-laid-against-four-individuals-for-bid-rigging-in-the-engineering-industry.html.

197. Ron Knox, China to merge antitrust into one enforcer, GLOB. COMPETITION REV. (Mar. 11, 2018), https://globalcompetitionreview.com/article/1166514/china-to-merge-antitrust-into-one-enforcer; Eliot Gao, China Announces it will wrap its three antitrust agencies into one authority, MLEX (Mar. 13, 2018), https://mlexmarketinsight.com/insights-center/editors-picks/antitrust/asia/china-announces-it-will-wrap-its-three-antitrust-agencies-into-one-authority; Peter J. Wang, Yizhe Zhang, & Qiang Xue, Thinking Ahead: The Integration of Chinese Anti-Monopoly Enforcement Authorities, THE ANTITRUST SOURCE (Aug. 2018) https://www.americanbar.org/content/dam/aba/publishing/antitrust_source/01/atsource-aug2018/aug18_wang_8_16f.pdf.

198. Zhang Mao (张 茅), Speech at the National Market Supervision Work Symposium (在全国市场监管工作座谈会上

的讲话) (July 5, 2018), http://samr.saic.gov.cn/xw/zyxw/201807/t20180705_274924.html.

199. Id. 200. China Competition Policy and Law Annual Conf. 2017/2018, CWTO, Beijing (Jan. 11, 2018); Symposium on Celebrating

the Tenth Anniversary of the Implementation of the Antimonopoly Law, CUPL Center for Competition Law, Beijing (July 30, 2018).

201. Court of Justice of the European Union Press Release No 09/18, The Court of Justice upholds the fines imposed by the Commission on a number of companies for their participation in cartels in the international air freight forwarding services

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sector (Feb. 1, 2018), https://curia.europa.eu/jcms/upload/docs/application/pdf/2018-02/cp180009en.pdf; Robert-Jan Bartunek, EU's top court upholds fines for freight forwarding service, REUTERS (Feb. 1, 2018), https://www.reuters.com/article/us-eu-competition-transport-court/eus-top-court-upholds-fines-for-freight-forwarding-cartel-idUSKBN1FL4JG; Richard Burton, European Union: Significant Cartel Case Developments In February 2018, MONDAQ (Mar. 22, 2018), http://www.mondaq.com/x/685136/Cartels+Monopolies/Significant+Cartel+Case+Developments+In+February+2018; Kuehne Nagel, EU Court upholds air freight forwarding cartel fines, EU BUSINESS (Feb. 1, 2018), https://www.eubusiness.com/news-eu/freight-court.12an.

202. Philip Blenkinsop & Foo Yun Chee, EU probes VW, BMW, Daimler over alleged emissions collusion, REUTERS (Sept. 18, 2018), https://uk.reuters.com/article/us-autos-emissions-eu/eu-probes-vw-bmw-daimler-over-alleged-emissions-collusion-idUKKCN1LY111; Press Release, Eur. Comm'n, Commission opens formal investigation into possible collusion between BMW, Daimler and the VW group on clean emission technology (Sept. 18, 2018), http://europa.eu/rapid/press-release_IP-18-5822_en.htm.

203. Xu Yuan and Yonnex Li, Hong Kong's antitrust agency consults lawyers on new draft of leniency policy, MLEX (Oct. 5, 2018), http://www.mlex.com/GlobalAntitrust/DetailView.aspx?cid=1028648&siteid=192&rdir=1.

204. Programme, Hong Kong Competition Exchange 2018, Nov.1 — 2, 2018, https://hkcompex.org/programme. 205. Press Release, Hong Kong Competition Comm'n, Competition Comm'n Advisory Bulletin (Apr. 9, 2018),

http://www.mlex.com/GlobalAntitrust/DetailView.aspx?ppo=23&cid=979841&siteid=192&rdir=1; Press Release, Hong Kong Competition Comm'n, Competition Commission advises on practices in employment marketplace (Apr. 9,

2018), http://www.mlex.com/GlobalAntitrust/DetailView.aspx?ppo=23&cid=979841&siteid=192&rdir=1. 206. Press Release, Japan Fair Trade Commission, JFTC's criminal accusation against construction companies over

coordination of bids in maglev railway construction project (Mar. 23, 2018), https://www.jftc.go.jp/en/pressreleases/yearly-2018/March/180323_2.html.

207. Comment, Sachiko Sakamaki, Long arm of Japanese antitrust keeps getting longer as JFTC targets misconduct, MLEX (Apr. 5, 2018), http://www.mlex.com/GlobalAntitrust/DetailView.aspx?cid=979006&siteid=190&rdir=1.

208. Press Release, Korean Fed. Trade Comm'n, http://www.ftc.go.kr/eng/cop/bbs/selectBoardList.do?key=515&bbsId=BBSMSTR_000000002402&bbsTyCode=BBST18.

209. South Korea: Concerns over "excessive" antitrust probes arise, CPI(Aug. 22, 2018), https://www.competitionpolicyinternational.com/south-korea-concerns-over-excessive-antitrust-probes-arise/; Korean Ministry of Justice and KFTC to Abolish KFTC's Exclusive Criminal Referral Right and Share Concurrent Jurisdiction over Hard-Core Cartel Conduct, YULCHON LLC (Aug. 22, 2018), https://www.yulchon.com/ENG/notice/view2.asp?CD=8358&CM=NG2&searchPg=&searchKey=&searchVal=&startYear=&startMonth=&endYear=&endMonth=&gubun=ARTICLE&page=1.

210. Press Release, Competition and Markets Authority, Estate Agent Cartel Directors Disqualified (Apr. 10, 2018), https://www.gov.uk/government/news/estate-agent-cartel-directors-disqualified.

211. Andrew Jurkiw & Angelene Duke, Price monitoring back in the spotlight: consumer goods manufacturers fined more than €100 million, LEXOLOGY (Aug. 3, 2018), https://www.lexology.com/library/detail.aspx?g=f65d4bfd-31dd-49ff-9a29-a682f2e2b3be; Press Release, Competition and Markets Authority, Online Sales of Posters and Frames (Dec. 4, 2015), https://www.gov.uk/cma-cases/online-sales-of-discretionary-consumer-products; Becky Ellis & Sandra Mayenda, Company directors beware; CMA secures its second director disqualification, LEXOLOGY (Apr. 25, 2018), https://www.lexology.com/library/detail.aspx?g=f0bc0bc5-3080-4665-8b2e-570b72ffd7a1.

212. Animal Sci. Prods., Inc. v. Hebei Welcome Pharm. Co. Ltd., 138 S. Ct. 1865 (2018).

213. Id. at 1873, 75. 214. In re Air Cargo Shipping Servs. Antitrust Litig., 2006 U.S. Dist. LEXIS 83283 (E.D.N.Y. 2006).

215. In re Domestic Airline Travel Antitrust Litig., No. 15-1404 (D.D.C. 2016).

216. Prosterman v. Am. Airlines, Inc., No. 17-15468, 2018 WL 4018147 (9th Cir. Aug. 23, 2018). 217. Id. at *3. 218. Id. at *2 (quoting In re Musical Instruments, 798 F.3d 1186, 1195 (9th Cir. 2015)). 219. Siegel v. Delta Air Lines, Inc., No. 16-16401, 2018 U.S. App. LEXIS 6028 (11th Cir. 2018).

220. In re Optical Disk Drive Antitrust Litig., No. 10-md-02143-RS, 2017 WL 6503743, at *5-6 (N.D. Cal. Dec. 18, 2017).

221. Id. at *3. 222. ACER Am. Corp. v. Samsung Elecs. Co., Ltd., No. 18-15087 (9th Cir. filed Jan. 16, 2018); Siegel v. Samsung Elecs. Co.,

Ltd., No. 18-15090 (9th Cir. filed Jan. 17, 2018). 223. In re Generic Pharms. Pricing Antitrust Litig., No. 2724, 2018 WL 5003450, at *33 (E.D. Pa. Oct. 16, 2018).

224. Id. 225. FTC v. Actavis, Inc., 570 U.S. 136 (2013).

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226. In re Androgel Antitrust Litig., No. 2084, 2018 WL 2984873, at *15 (N.D. Ga. June 14, 2018). 227. Id. at *16-17. 228. In re Namenda Direct Purchaser Antitrust Litig., No. 15 Civ. 7488 (CM), 2018 WL 3970674, at *29 (S.D.N.Y. Aug. 16,

2018).

229. In the Matter of Impax Labs., Inc., FTC No. 141 0004, Docket No. 9373 (May 18, 2018), https://www.ftc.gov/system/files/documents/cases/d09373initialdecisionpublic.pdf.

230. Nate Raymond, Impax Reaches $20 Million Deal to End Trial Over Generic Drug's Delay, REUTERS (Mar. 29, 2018), https://www.reuters.com/article/us-impax-labs-lawsuit/impax-reaches-20-million-deal-to-end-trial-over-generic-drugs-delay-idUSKBN1H520X.

231. Id. 232. Id. 233. Josh Eidelson, Burger King, Pizza Hut Agree to Stop Using 'No-Poaching' Pacts, BLOOMBERG (Sept. 13, 2018),

https://www.bloomberg.com/news/articles/2018-09-13/burger-king-pizza-hut-agree-to-stop-using-no-poaching-pacts. 234. See, Deslandes v. McDonalds USA, LLC., No. 1:17-cv-04857 (N.D.Ill. filed June 28, 2017); Arrington v. Burger King

Worldwide Inc., No. 18-cv-24128 (S.D. Fla. filed Oct. 5, 2018); Avery v. Albany Shaker Donuts LLC, No. 18-cv-09885 (S.D.N.Y. filed Oct. 25, 2018).

235. Butler v. Jimmy John's Franchise, LLC., No. 18-cv-0133, 2018 WL 3631577, at *7-8 (S.D. Ill. July 31, 2018).

236. "Single-copy" refers to magazines that are sold individually, as opposed to via subscriptions. 237. Anderson News, L.L.C. v. Am. Media, Inc., 899 F.3d 87, 115 (2d Cir. 2018).

238. Anderson News, L.L.C. v. Am. Media, Inc., 123 F. Supp. 3d 478, 507-08 (S.D.N.Y. 2015) 239. Id. at 510. 240. Anderson, 899 F.3d at 98. 241. Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 588 (1986).

242. Thompson v. 1-800 Contacts, Inc., No. 16-cv-01183, 2018 U.S. Dist. LEXIS 83806, at *15, 26-27, 34, 39 (D. Utah May 17, 2018).

243. Motion to for Approval of Settlement, In re Wholesale Grocery Prods. Antitrust Litig., No. 09-md-02090, 2011 U.S. Dist. LEXIS 12439 (D. Minn. June 27, 2017) (No. 819).

244. Judgement, In re Wholesale Grocery Prods. Antitrust Litig., No. 09-md-02090, 2011 U.S. Dist. LEXIS 12439 (D. Minn. June 27, 2017) (No. 1234).

245. D&G, Inc. v. C&S Wholesale Grocers, Inc., No. 18-2121 (8th Cir. Nov. 14, 2018).

246. Ohio v. Am. Express, 138 S. Ct. 2274, 2290 (2018).

247. Id. at 2285-87. 248. Id. at 2289-90. 249. Apple v. Pepper, No. 17-204 (2018).

250. Ill. Brick v. Ill., 431 U.S. 720 (1977).

251. In re Apple iPhone Antitrust Litig., No. 11-cv-06714, 2013 WL 6253147, at *6-7 (N.D. Cal. Dec. 2, 2013).

252. Ill. Brick, 431 U.S. at 746-47. 253. Id. at *6. 254. In re Apple iPhone Antitrust Litig., 846 F.3d 313, 324 (9th Cir. 2017).

255. Tucker Higgins, Supreme Court appears skeptical of Apple's arguments in App Store monopoly case, CNBC (Nov. 27, 2018), https://www.cnbc.com/2018/11/26/supreme-court-appears-skeptical-of-apples-arguments-in-app-store-monopoly-case.html.

256. Oral Argument Tr., Apple Inc. v. Pepper, No. 17-204, at 21 (Nov. 26, 2018). 257. Id. at 15, 17, 40, 48. 258. In re Suboxone (Buprenorphine Hydrochloride & Naloxone) Antitrust Litig., No. 13-MD-2445, 2017 WL 3967911, at *16

(E.D. Pa. Sep. 8, 2017). 259. See Namenda, 2018 WL 3970674, at *25. 260. Id. at *9. 261. Opinion, Mylan Pharm. v. Celgene Corp., 2:14-cv-02094-ES-MAH (D.N.J. Oct. 10, 2018) (No. 287).

262. Scott Gottlieb, Comm'r, Food and Drug Admin., Remarks at FTC Hearing "Understanding Competition in Prescription Drug Markets: Entry and Supply Chain Dynamics" (Nov. 8, 2017), https://www.fda.gov/NewsEvents/Speeches/ucm584195.htm.

263. Reference Listed Drug (RLD) Access Inquiries, Food and Drug Admin., https://www.fda.gov/Drugs/DevelopmentApprovalProcess/HowDrugsareDevelopedandApproved/ApprovalApplications/AbbreviatedNewDrugApplicationANDAGenerics/ucm607738.htm.

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264. See Scott Gottlieb, Comm'r, Food and Drug Admin., Statement on "New Policies to Reduce the Ability of Brand Drug Makers to User REMS Programs as a Way to Block Timely Generic Drug Entry, Helping Promote Competition and Access" (May 31, 2018), https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm609365.htm.

265. See Samantha DiGrande, Maine Passes Law to Address Misuse of REMS Programs, CENTER FOR BIOSIMILARS (July 30, 2018), https://www.centerforbiosimilars.com/news/maine-passes-law-to-address-misuse-of-rems-programs.

266. Amphastar Pharms. v. Momenta Pharm., Inc., 850 F.3d 52, 57 (1st Cir. 2017). 267. Amphastar Pharm. v. Momenta Pharm., 297 F. Supp. 3d 222, 228 (D. Mass. 2018). 268. Id. at 229. 269. Id. at 231. 270. Walker Process Equip.v. Food Mach. & Chem., 382 U.S. 172, 177-78 (1965). 271. E. R.R. Presidents Conference v. NoerrMotor Freight, 365 U.S. 127, 144 (1961). 272. 902F.3d 1 (1st Cir. 2018). 273. Id. at 10. 274. Id. at 12. 275. Id. at 14-16. 276. FTC v. AbbVie Inc., No. 14-5151, 2018 U.S. Dist. LEXIS 109628, at *54-55, *79 (E.D. Pa. June 29, 2018). 277. Id. at *100, 103. 278. Bryan Koenig, FTC To Seek Revival Of Parts Of AbbVie Suit After $448M Win, LAW360 (July 23,

2018), https://www.law360.com/articles/1065838/ftc-to-seek-revival-of-parts-of-abbvie-suit-after-448m-win. 279. In re Restasis (Cyclosporine Opthalmic Emulsion) Antitrust Litig., No. 18-MD-2819, 2018 WL 4473632, at *16 (E.D.N.Y.

Sep. 18, 2018). 280. Id. at *17. 281. Id. 282. Id. at *18. 283. Scott Gottlieb, Comm'r, Food and Drug Admin., Statement on "New Agency Actions to Further Deter 'Gaming' of the

Generic Drug Approval Process by the Use of Citizen Petitions" (Oct. 2, 2018), https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm622252.htm.

284. FDA, CENTER FOR DRUG EVALUATION AND RESEARCH, DRAFT GUIDANCE ON CITIZEN PETITIONS AND PETITIONS FOR STAY OF ACTION SUBJECT TO SECTION 505(Q) OF THE FEDERAL FOOD, DRUG, AND COSMETIC ACT, at 16-17 (Oct. 2018), https://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/UCM622235.pdf.

285. See Press Release, Fed. Trade Comm'n, FTC Submits Comment on FDA Guidance Aimed at Deterring Abuse of Citizen Petition Process (Dec. 4, 2018), https://www.ftc.gov/news-events/press-releases/2018/12/ftc-submits-comment-fda-guidance-aimed-deterring-abuse-citizen.

286. Elizabeth Richardson, Health Policy Brief: Biosimilars, HEALTHAFFAIRS, Oct. 10, 2013, at 1, available at http://healthaffairs.org/healthpolicybriefs/brief_pdfs/healthpolicybrief_100.pdf.

287. Pfizer Inc. v. Johnson & Johnson, No. 17-cv-4180, 2018 WL 3818918, at *6 (E.D. Pa. Aug. 10, 2018).

288. Maxon Hyundai Mazda v. Carfax, Inc., 726 F. App'x 66, 69 (2d Cir. 2018). 289. Malden Transp., Inc. v. Uber Techs., Inc., 321 F. Supp. 3d 174, 178 (D. Mass. 2018).

290. Id. at 179. 291. Id. at 180. 292. Brown Shoe v. U.S., 370 U.S. 294, 320 (1962).

293. Huawei Techs., Co v. Samsung Elecs. Co., No. 3:16-cv-02787, 2018 U.S. Dist. LEXIS 172103 (N.D. Cal. Sep. 25, 2018). 294. Id. at 44. 295. Id. at 48-49. 296. Id. at 50-52. 297. In re Asacol Antitrust Litig., 907 F.3d 42 (1st Cir. 2018). 298. Id. at 44. 299. Id. at 45-46. 300. Id. at 46-47. 301. Id. at 46-52. 302. Id. at 53. 303. Id. at 46. 304. Messner v. Northshore Univ. Health Syst., 669 F.3.d 802, 822-26 (7th Cir. 2012). 305. In re Thalidomid and Revlimid Antitrust Litig., Civ. No. 14-6997, 2018 U.S. Dist. LEXIS 186457 (D.N.J. Oct. 30, 2018). 306. Id. at *3-4. 307. Id. at *44. 308. Id. at 46. 309. In re Qualcomm Antitrust Litig., No. 17-MD-02773-LHK, 2018 WL 4680214 (N.D. Cal. Sept. 27, 2018).

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310. Id. at *2. 311. Id. 312. Id. at *26, 29. 313. Stromberg v. Qualcomm Inc., No. 18-80135 (9th Cir. filed Oct. 11, 2018).

314. In re LIBOR-Based Fin. Instruments Antitrust Litig., 299 F. Supp. 3d 430, 609 (S.D.N.Y. 2018).

315. Leave to Appeal, FTC Capital GMBH v. Credit Suisse Grp. AG, No. 18-728 (2d Cir. Nov. 6, 2018) (No. 84).

316. Order Preliminarily Approving Settlement, In re LIBOR-Based Financial Instruments Antitrust Litig., No. 11-cv-5450 (S.D.N.Y. Apr. 5, 2018) (No. 398).

317. B&R Supermarket v. Mastarcard Int'l, No. 17-CV-02738, 2018 WL 1335355 at *1 (E.D.N.Y. 2017). 318. Id. at *3-4. 319. Id. at *13-14. 320. Order at 3-4, In re Disposable Contact Lens Antitrust Litig., 215 F.Supp.3d 1272 (2016) (No. 3:15-md-02626) (M.D. Fl. Dec.

4, 2018) (No. 940). 321. Id. at 135-36. 322. Id. at 130. 323. Ward v. Apple Inc., No. 12-cv-05404, 2018 WL 934544, at *1 (N.D. Cal. Feb. 16, 2018)

324. Id. at *3. 325. In re Capacitors Antitrust Litig., No. 17-md-02801, 2018 WL5980139, at *10 (N.D. Cal. Oct. 14, 2018).

326. Chip Tech Ltd. v. Panasonic Corp., No. 18-80174 (9th Cir.).

327. In re Lithium Ion Batteries Antitrust Litig., No. 13-md-2420, 2018 WL 1156797, at *1 (N.D. Cal. Mar. 5, 2018). 328. Id.at *1. 329. Id. at *4. 330. Id. at *5.