Federal Antitrust Violations Defense Attorney
Federal Antitrust Violations Defense Attorney
In the U.S. every business is expected to observe several important federal laws involving antitrust. The main aim is to encourage healthy competition aimed at promoting efficiency for low prices and increased quality. Violations of these laws have severe financial consequences for the business. If your business is being investigated for such law violations or you have been charged, an experienced defense attorney is inevitable for you. At our law firm, we boast of a wealth of experience that has made us successfully defend clients having such charges. We look forward to letting this experience defend you in your charges.
Federal Antitrust Laws.
The railroad industry at the end of the 19th century started consolidating and developing which led to emerging of monopolies in the U.S. Attention has been put on the impact of these developments on the entire economy and in particular, free trade resulting in passing the antitrust law by the nation. In the year 1890, the Sherman Act was passed by Congress and regarded as a “comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.” The law was then preceded with the Federal Trade Commission Act together with the 1914 Clayton Act. As of today, the three laws have continued to be the primary reference for federal antitrust laws in the United States.
The first antitrust law in the United States, the Sherman Act forbids all contracts, conspiracies and combinations in limitation of trade. Furthermore, forbids any type of monopolization, an attempt to monopolize or combination or conspiracy to monopolize. The United States Supreme Court long ago decided that strictly unreasonable trade restraints are prohibited. For instance, a consensus between competitors to divide territories, fix prices or bid rigging is defined as a violation of the Act. In the Act, these clear violations are called “per se” violations. On the contrary, while the creation of a partnership between competitors results in a trade restraint, the partnership formation alone can constitute a restraint which is unreasonable on trade.
Agencies for enforcement of federal laws aggressively investigate the Sherman Act. The Sherman Act, unlike most federal laws which govern business and commerce, possess a criminal aspect. Therefore, the violation of this act results into a criminal offence that may lead to penalties of a fine not exceeding $1 million for individuals and $100 million for a corporation and/or up-to 10 years imprisonment or both. However, when the amount under subject is more than $100 million, the fine is increased to double the lost amount of cash by the crime victims or double the amount these conspirators caught from the illegality.
Federal Trade Commission Act
FTC Act was passed in the year 1914 to prohibit “unfair or deceptive acts or practices” and “unfair methods of competition.” After its passing, the United States Supreme Court gave an interpretation of the Act in a way making all the violations of the Sherman Act to having as well violated the FTC Act. Moreover, the FTC is able to bring cases involving the same activities that are forbidden as per the Sherman Act as well as those which are not outlined in the Act.
The Clayton Act was also passed in the year 1914 to fill the gaps created by the Sherman Act. For instance, the Act forbids acquisitions and mergers where effects may be to create a monopoly or to lessen the competition substantially. It was later amended by the 1936 Robinson-Patman Act to ban discriminatory allowances, services and prices while working with merchants. The Clayton Act amendment of the year 1976, referred to as the Hart-Scott-Rodino Antitrust Improvements Act give a mandate to the notice in advance to the government in situations where firms plan a massive acquisition or merger. Also, the Act permits private parties to take to the court for triple damages whenever they are harmed by violations of both the Clayton Act or the Sherman Act. They are also allowed to obtain court orders to prohibit going forward, the anti-competition practice.
Get Help from Experienced Federal Antitrust Violations Defense Attorneys
If you or your business is being investigated for federal violations of antitrust laws, you could face criminal, civil or even administrative litigation. Furthermore, your business’ financial health is at threat when it is under suspicions, the earlier you get the help of an experienced attorney, the earlier you save your business. If you have charges already filed against you, we are here to help you defend yourself. We will dedicate our wealth of experience in antitrust litigation and investigations to defend your business and yourself.