In The News

    • February 19, 2015
      ‘AmEx Shows Small Market Shares Carry Antitrust Risks’
      Steven J. Cernak
      After a ruling that American Express’ rules barring merchants from encouraging consumers from using other credit card brands violate antitrust law, Schiff Hardin Of Counsel Steven Cernak was quoted on the market share analysis of the case. 30 percent market share is often considered a baseline for market power in antitrust analysis, but the court found that AmEx’s 26 percent was compelling evidence of market power. Cernak said that market share is not the end of the analysis, but rather the beginning. He said there can be other evidence of market power and the fact that American Express is able to keep its prices high and not lose a lot of merchants is some evidence it’s able to use market power.
    • February 3, 2015
      ‘Office Depot-Staples Tie-Up Would Test How Regulatory Thinking Has Evolved’
      Steven J. Cernak
      In this article on advanced merger talks between Staples Inc. and Office Depot Inc., Steven Cernak was quoted on the FTC’s focus on whether a Staples-Office Depot merger would have an impact on large business customers that buy office supplies on a contract basis. Cernak now wonders if those buyers will complain and provide a basis for the FTC to challenge the merger.
    • November 17, 2014
      'Halliburton-Baker Hughes Deal Could Face Antitrust Hurdles'
      The Wall Street Journal, Law360, Stockwise Daily, Breaking Energy
      Steven J. Cernak
      Partner Steven Cernak was quoted in several articles on the Halliburton-Baker Hughes Deal, saying that the deal faces an uphill battle, as it looks like a 3-2 merger, and 3-2 mergers are going to be tough to get through anywhere. Mr. Cernak credited the companies with following the appropriate playbook by emphasizing large cost savings and complementary product lines, adding that these are the ways to obtain antitrust approval.
    • April 14, 2014
      'Sense of the Markets: With clear majority, Ramirez can set FTC agenda'
      The Deal Pipeline
      Steven J. Cernak
      Schiff Hardin of counsel and co-chair of the U.S. Chamber of Commerce's antitrust council Steve Cernak was quoted after FTC's confirmation of Terrell McSweeny gave Chairwoman Edith Ramirez a Democratic majority. Mr. Cernak said now that there's a third Democratic vote, Ramirez will presumably have a more manageable commission to get something done and won’t need to twist a Republican’s arm to get a majority.
    • June 18, 2012
      'Ex-NCAA Players Fumbled Scholarship Antitrust Case: 7th Circ.'
      Chicago Daily Law Bulletin and Law360
      Gregory L. Curtner
      This article reports Schiff Hardin partner Greg Curtner’s successful representation of the NCAA in a price-fixing class action case brought by two former student-athletes whose one-year athletic scholarships were not renewed after they claimed that sustaining injuries kept them from playing football. Mr. Curtner commented that he is pleased with the Seventh Circuit’s determination that the student-athletes failed to show that limits placed by the NCAA on the number and duration of scholarships violated antitrust law.
    • January 26, 2010
      'Are Concert-Goers the Losers in Ticketmaster-Live Nation Deal?'
      E-Commerce Times
      Richard J. Hoskins
      This article in the E-Commerce Times quotes Schiff Hardin partner Richard Hoskins on the government's approval, with conditions, of the merger of Ticketmaster, the leading entertainment ticketing seller, and Live Nation, a leading provider of booking and management services for live music acts.