Credit: MQ-Illustrations/Adobe Stock Mergers Could Be Delayed by Months Under New FTC, DOJ Filing Rules
The FTC rolled out new merger-review hurdles that it says are partly aimed at addressing congressional concerns that subsidies by foreign powers such as China "can distort the competitive process."
June 27, 2023 at 04:58 PM
2 minute read
Mergers and Acquisitions
The Federal Trade Commission and Department of Justice, which already are frustrating companies and their legal teams by taking the toughest stand against mergers since the 1970s, now are planning changes that could add months to premerger notification reviews.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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