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For more than 40 years, California was out of synch with the U.S. Supreme Court, permitting defendants in state antitrust actions to argue that direct purchasers suffered no harm because they passed price increases on to consumers. With a ruling Monday that eliminates the pass-through defense, California's now in step with the federal courts.
The Bankruptcy Files: I-Banks, Consulting Firms, Bowling, and Poultry
Federal business bankruptcy filings have fallen to their lowest levels since 2008, and one large debtor in Eastman Kodak and its lawyers from Sullivan & Cromwell are poised to exit Chapter 11 proceedings. Several recent notable filings have nonetheless landed roles for such Am Law 100 firms as Kirkland & Ellis, McGuireWoods, Reed Smith, and Ropes & Gray, while other restructuring pros see the looming fiscal cliff as potentially generating an avalanche of new bankruptcy cases.Dell Loses Sanctions Bid in LCD Battle with AU Optronics, HannStar
Three of the firms represent foreign companies that are defendants in a civil antitrust class action over LCD products. The court ruled that the Department of Justice can subpoena client documents that originated overseas, and which the DOJ has been unable to obtain for a grand jury probe.
Cite as 10 C.D.O.S. 13034TELESAURUS VPC, LLC, a Delaware Limited Liability Company, Plaintiff-Appellant, v. RAN
With so much manufacturing moving overseas, AU Optronics's appeal of the company's criminal price-fixing conviction could have broad implications for a crucial question: Can alleged cartels thwart U.S. antitrust enforcement efforts if much of their alleged conduct took place abroad?
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