How FTC Sent a $5.6M Warning Against Jumping the Gun
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On Jan. 7, the Federal Trade Commission announced that crude oil producers XCL Resources Holdings LLC, Verdun Oil Co., and EP Energy LLC would pay a record $5.6 million civil penalty to settle allegations they engaged in unlawful "gun jumping" activities in violation of Section 7A of the Clayton Act, Title 15 of the U.S. Code, Section 18A, known as the Hart-Scott-Rodino Antitrust Improvements Act.
The size of the penalty caused many antitrust lawyers to take notice: it is the largest-ever penalty associated with unlawful gun jumping. In this Law360 article, Jason Leckerman, Chair of Ballard Spahr's Litigation Department, and Habiba Cheema, a member of the firm's Antitrust and Competition Practice Group, examine the FTC's decision.
Read the full article here.