A conference entitled "Antitrust Federalism: Enhancing the Federal/State Relationship" brought federal and state antitrust regulators together last week at Columbia Law School. Speakers included DOJ Antitrust Division head Christine Varney, FTC Chairman Jon Leibowitz, and Ohio AG Richard Cordray. The event highlighted a reinvigorated spirit of cooperation between state and federal regulators on antitrust enforcement. Varney reported that the DOJ is once again working with state AGs on issues ranging "from mortgage fraud, to information sharing, to financial crime." Leibowitz noted that a close relationship between federal regulators and state AGs is critical to successful enforcement efforts. "It's very hard to win a merger case in a state if you don't have the support of the state attorney general," he explained.
Stephen Houck's paper, "The Transition Report: The State of State Antitrust Enforcement," generated discussion. The paper outlines recommendations to increase collaboration between regulators and improve the effectiveness of state enforcement efforts.
Houck stresses that it is "critical" that regulators improve relations with private class counsel:
The states should think creatively about how to interact better with private consumer class counsel, including how to avoid duplicative efforts, how to take advantage of private counsel's relative strengths, and how to resolve conflict once it arises. Improving this relationship is critical given the states' budgetary constraints, the difficult litigation environment for all antitrust plaintiffs, and the change in the landscape wrought by Twombly and CAFA. Items for consideration might include how to use tolling agreements to allow private counsel to proceed without disadvantaging the states, how to cooperate at the investigatory stage, how to better coordinate amicus efforts on issues of mutual interest, and how to standardize and improve CAFA review.
Read more about the conference here.
Read the full text of Stephen Houck's paper, "The Transition Report: The State of State Antitrust Enforcement," here.
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