The White House in Washington, D.C. Photo: Diego M. Radzinschi/ALM DOJ, FTC Lead New White House Strike Force on Unfair and Illegal Pricing
"This strike force will strengthen interagency efforts to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices," the White House said.
March 05, 2024 at 10:26 AM
3 minute read
Regulation
President Joe Biden on Tuesday ordered the Department of Justice and Federal Trade Commission to unite in tackling "unfair and illegal pricing" by holding corporations that illegally hike prices accountable.
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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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