2019 Annual Antitrust Spring Seminar

Dechert’s global antitrust and competition team is pleased to invite you to our annual seminar covering the latest developments in the antitrust world. 

CLE credit, including ethics credit, is currently pending in CA, DE, NJ, NY, PA, and VA.

Keynote Speaker
Mark Israel, Compass Lexecon, Senior Managing Director
Dr. Israel, an expert in applying economic theory to antitrust cases, has played a key role in five high-profile merger cases litigated over the last four years. Dr. Israel testified as an expert in four cases, including helping the FTC win its challenge to the Sysco/US Foods merger, and offering opinions in favor of the merging parties in Anthem/Cigna; Energy Solutions/Waste Control Specialists; and Wilhemsen Maritime/Drew Marine. Most recently, he acted as the chief consulting expert for the defendants in AT&T/TimeWarner, who relied on Dr. Israel’s work product to defeat the DOJ’s merger challenge in the District Court and win on appeal at the D.C. Circuit.

8:00 AM - 8:30 AM
Registration & Breakfast

8:30 AM - 8:40 AM
Welcome 

8:40 AM - 9:25 AM
General Session I: Global Merger Clearance: How to Manage a Multinational Deal

Companies continue to expand operations globally while, at the same time, antitrust enforcement and merger control regimes continue to be adopted by countries around the world. Differences in review standards, substantive analysis, process, and timelines can lead to traps for the unwary. Join us as we discuss strategic options and practical advice for avoiding pitfalls when managing mergers subject to review in multiple jurisdictions.

9:25 AM - 9:45 AM
Break

9:45 AM - 10:45 AM
Breakout I: Antitrust Compliance in a Time of Populism: Considerations for Non-Tech-Giants

Calls for increased antitrust enforcement in the United States are becoming increasingly loud, and proponents often point to actions taken by the European Union as evidence of failed enforcement by the U.S. agencies. The “Hipster Antitrust” movement has gone so far as to argue that the consumer welfare standard and its focus on price, output, and quality should be discarded for a broader standard that addresses a range of societal ills from income inequality, to wage growth, to preserving small independent businesses, to avoiding the concentration of political power.  But what do these calls for increased antitrust enforcement mean for companies other than Google, Apple, Facebook, or Amazon? Join us as we discuss how this movement is and is not influencing antitrust enforcement, what conduct is actually under increased scrutiny, and what antitrust may look like in the near future if the U.S. enforcers shift more towards the E.U. approach.

Breakout II: Pharma Pricing Pitfalls 

The pharmaceutical industry has often been in the antitrust spotlight, and those calling for increased enforcement in the sector often point to large price increases as evidence of an antitrust problem even absent evidence of collusive or exclusionary conduct. “Excessive pricing” cases have been brought as an abuse of dominance violation in Europe and there are calls for U.S. legislators to adopt the same theory of liability. Even absent such a standalone theory, large price increases have supported claims in cases that allege collusive or exclusionary conduct. What are the implications of large price increases, and what options does a company have when it believes its products are underpriced in the market?

Breakout III: Cutting Edge Issues in Merger Clearance

Merger analysis in the United States and European Union continues to evolve, with greater focus on vertical mergers, acquisitions of nascent competitors, and the relevance of “common ownership” in the industry. At the same time, the enforcers’ are changing their positions on the requirements of the merger review process and on what commitments are necessary to remedy concerns. Our panel will discuss how these developments may impact the timing, scrutiny, and divestiture risk of your future deals, and how your antitrust diligence should be adjusted for these trends.

10:45 AM - 11:05 AM
Break

11:05 AM - 11:50 AM
General Session II: When Antitrust Litigation is an Existential Threat

Antitrust litigation can be an existential threat due to trebled damages, joint and several liability without contribution, and challenges to the lawfulness of practices that may be critical to a company’s business model. When faced with such a challenge, what options does your company have? What strategies should you pursue? Where are the exit ramps, how can you best position your company to minimize the impact and/or to go the distance and win at trial and on appeal? This panel will discuss lessons from recent cases and important considerations for companies when dealing with such existential antitrust threats.

11:50 AM - 12:00 PM
Break

12:00 PM - 1:00 PM
Luncheon & Keynote Speaker
Mark Israel, Compass Lexecon, Senior Managing Director

1:00 PM - 2:00 PM
General Session III: Ethics Session: Antitrust Gameshow

This program will help you update your understanding of ethical obligations and your ability to resolve difficult ethical questions in a fun and participatory game-show format.