Antitrust Remedies: Divestiture Actions Pre- and Post-Merger, Implications of Steves & Sons v. JELD-WEN
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will analyze the recent Fourth Circuit Court decision in Steves & Sons Inc. v. JELD-WEN Inc. and its endorsement of divesture as a remedy in private antitrust actions. In addition, the panel will discuss the previous use of divestiture as a remedy in government-initiated actions and how the case expands the remedy to private actions while also extending the timeframe after closing of a merger in which such actions may be pursued.
Outline
- Private antitrust actions and the Clayton Act
- Causes of action
- Remedies granted before Steves
- Steves & Sons Inc. v. JELD-WEN Inc.: case facts, basis of the claim
- Discussion of district court and circuit court decisions
- Allowances of divestiture as a remedy
- Denial of laches as a defense
- Implications for future private antitrust actions and M&A transactions generally
Benefits
The panel will review these and other important issues:
- Why has divestiture historically been granted only in antitrust enforcement actions brought by government agencies?
- What remedies have traditionally been granted to private plaintiffs in antitrust actions?
- Why was divestiture deemed to be the only appropriate remedy in the Steves case?
- After Steves, what are the limitations on how long a private party can wait to bring an action opposing a merger?
Faculty
Sheila R. Adams James
Partner
Davis Polk & Wardwell
Ms. Adams has represented clients in a variety of civil litigation and government investigations, and her practice... | Read More
Ms. Adams has represented clients in a variety of civil litigation and government investigations, and her practice focuses on antitrust investigations and litigation and the antitrust aspects of mergers and acquisitions. Ms. Adams’ clients have included firms in the media and entertainment, financial services, pharmaceutical and manufacturing industries, as well as individual corporate directors. She is a 2019 recipient of the National Bar Association’s 40 Under 40 Nation’s Best Advocates Award and one of the association’s five individual 40 Under 40 awards for Excellence in Leadership.
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Austin A.B. Ownbey
Counsel
Foley Hoag
Mr. Ownbey focuses his practice on representing and counseling clients on a range of antitrust issues, including the... | Read More
Mr. Ownbey focuses his practice on representing and counseling clients on a range of antitrust issues, including the review of mergers and other enforcement matters before competition agencies in the U.S., EU, and around the world. He regularly represents clients before the Antitrust Division of the DOJ, the FTC, State Attorneys General, and various foreign antitrust enforcement agencies. Mr. Ownbey frequently counsels clients through the Hart-Scott-Rodino merger review process and other merger control filings. He has worked with clients across a broad array of industries including healthcare, pharmaceuticals, financial services, cannabis, and energy.
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E. John Steren
Member
Epstein Becker & Green
Mr. Steren leverages his more than 30 years of healthcare antitrust and litigation experience to help healthcare... | Read More
Mr. Steren leverages his more than 30 years of healthcare antitrust and litigation experience to help healthcare clients manage the risks of joint ventures and other business arrangements and to defend them against government investigations and enforcement actions. He also provides counseling and litigation services to employers in connection with non-competition and pricing-related issues. Among Mr. Steren’s clients are large healthcare providers (or provider groups), such as hospitals and healthcare systems, physicians, ambulatory surgery center corporations, and other specialty care providers (e.g., chains of urological care or anesthesia providers). His clients also include large retail chains, commercial and residential lenders, and product manufacturers and distributors. A thought leader in the antitrust field, Mr. Steren speaks regularly and has authored numerous articles on antitrust issues affecting the healthcare industry.
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