The U.S. Court of Appeals for the Second Circuit affirmed dismissal of claims that financial institutions conspired to stop buying auction rate securities and triggered the market’s collapse. A district court ruled that a lawsuit alleging that private equity funds agreed to refrain from competing with one another in acquisitions of public companies could proceed to trial, after narrowing the scope of the claims.
Other antitrust developments of note included a ruling by the U.S. Court of Appeals for the Ninth Circuit that plaintiffs who bought price-fixed goods outside the state could bring claims under California antitrust law because the alleged collusion took place in the state and the European Commission’s decision to prohibit Ryanair’s renewed proposal to acquire rival Irish airline Aer Lingus.
Pleading Conspiracy
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