SAN FRANCISCO — Online ratings firm Bazaarvoice Inc. has agreed to dissolve a 2012 merger to settle claims with the U.S. Department of Justice and address the concerns of a federal judge about the union’s potential anticompetitive effects.
Under the settlement, which was disclosed in court papers Thursday, Austin-based Bazaarvoice will divest all assets it gained through its acquisition of PowerReviews Inc., previously its main competitor. Bazaarvoice will pay the government more than $222,000 for the costs of litigation. It also agreed not to appeal an order from U.S. District Judge William Orrick III of the Northern District of California finding the merger would likely suppress competition in the market for online ratings and reviews.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
