The Düsseldorf Court of Appeals (“DCA”) has now published its full reasoning rejecting the Federal Cartel Office’s (“FCO”) expansive interpretation of Germany’s transaction value-based test in Adobe’s acquisitions of Magento (e-commerce software) and Marketo (B2B marketing automation software).[1] The decisions clarify that the transaction value-based threshold is a subsidiary test, triggered only where the
Antitrust & Trade Regulation
Delivery Hero and Glovo Cartel EU Fine Delivers Warning About Antitrust Risks of Holding Minority Stake in a Rival
On June 2, 2025, the Commission fined Delivery Hero and Glovo €329 million for a cartel in the online food delivery sector. During Delivery Hero’s non-controlling minority shareholding in Glovo from 2018 to 2022, the parties (1) agreed not to poach each other’s employees; (2) divided national markets among themselves, and (3) exchanged commercially sensitive information.…
Introducing Blog of Reason: Wiggin and Dana’s Antitrust and Consumer Protection Blog
Wiggin and Dana’s Antitrust and Technology Disputes Practice Group is excited to launch Blog of Reason, named for the so-called “rule of reason” under U.S. antitrust law. As followers of antitrust law know, a “rule of reason” analysis is expansive, searching, and nuanced. Blog of Reason aspires to be the same. But our blog’s coverage will be broader…
Important Announcement Regarding the FTC’s Revised Negative Option Rule
As we previously reported, on October 16, 2024, the Federal Trade Commission (FTC), after receiving thousands of public comments, released the final version of its Negative Option Rule. The Rule is now scheduled to go into effect on July 14, 2025.[1] Any company with automatic renewal subscriptions or memberships will be impacted by the Rule.…
Antitrust Review Episode 43: In conversation with Cani Fernández
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by Cani Fernández, President of the Spanish Competition Authority. Their conversation covers an array of topics, including the role of competition law, the Draghi Report, merger control, cartel enforcement, sustainability, digital regulation, and much more.
Listen below, or select from the…
Tenth Circuit Decision Highlights Distinction Between Traditional Non-Compete and Forfeiture-for-Competition
In Lawson v. Spirit AeroSystems, Inc., the U.S. Court of Appeals for the Tenth Circuit upheld the forfeiture of certain stock awards for violating a covenant not to compete. Like the Seventh Circuit in LKQ Corp. v. Rutledge(which applied Delaware law), the Tenth Circuit concluded that, under Kansas law, the remedy of forfeiting…
Tenth Circuit Affirms Dismissal of Trade Secret Claims for Lack of Particularity and Secrecy
On April 22, 2025, the Tenth Circuit affirmed summary judgment in favor of a sales manager and his new employer on claims under the Defend Trade Secrets Act (“DTSA”), the Oklahoma Uniform Trade Secrets Act (“OUTSA”), and common law claims for misappropriation of confidential business information and civil conspiracy, which were brought by his former…
Antitrust Review Episode 42: In conversation with Aviv Nevo
In the latest instalment of our Antitrust Review podcast, host Nick Levy is joined by Aviv Nevo, Chief Economist at the Department of Justice under President Obama and Director of the Bureau of Economics at the Federal Trade Commission under President Biden. They discuss antitrust enforcement under President Biden, why economics matters, the consumer welfare…
The European Commission Launches Wide-Ranging Review of EU Merger Guidelines
On May 8, 2025, the European Commission (the “EC”) launched a public consultation on the EU Merger Guidelines (together, the “Guidelines”), which describe the framework applied by the EC to assess the competitive impact of horizontal and non-horizontal mergers (the “Consultation”).[1] The Consultation responds to the Draghi Report’s call for “more forward-looking and…
Current trends in state antitrust enforcement
State antitrust enforcement is becoming increasingly significant, with a diverse array of laws across 51 jurisdictions, including the District of Columbia. State Attorneys General (AGs) are not merely filling gaps left by federal enforcement but are actively shaping the landscape with robust state-specific laws. This post provides an overview of the current trends and legislative…