Over the last six months, Spirit Airlines stock has plummeted,[1] and there are now reports that the airline’s pilots are actively hunting for jobs elsewhere.[2] This downward spiral comes on the heels of a federal judge’s blockage of the proposed $3.6 billion acquisition of Spirit by JetBlue Airways last month.[3] In his opinion, United States District Judge William Young wrote “[t]o those dedicated customers of Spirit, this one’s for you.”[4] Moreover, Judge Young stated that the elimination of Spirit, a budget carrier, would “harm cost-conscious travelers” who have benefited from Spirit’s a ..read more

On January 31, 2024, Universal Music Group (UMG), the record label for some of the world’s biggest acts, pulled its licensed music from TikTok, and millions of videos on TikTok went silent.[1] The music, once available for over one billion TikTok users globally to add short snippets to their content, was no more.[2] UMG is one of the largest music conglomerates in the world.[3] It owns record labels such as Republic, Capital, and Interscope Records.[4] Artists like Taylor Swift, Olivia Rodrigo, Harry Styles, and Drake all fall under the UMG publishing purview.[5] Further, this TikTok ban also ..read more

After suspending withdrawals in June 2022, cryptocurrency exchange Celsius Network has emerged from Chapter 11 Bankruptcy, ushering in the commencement of distribution of over $3 billion in cryptocurrency and fiat currency to its creditors.[1] The good news follows after 18 months of the company’s roller-coaster Chapter 11 Bankruptcy case that presented fascinating complexities such as dollarization concerns, regulatory fines from agencies such as the SEC, and the steep decline in the value of Celsius’ CEL token.[2] The Bankruptcy also came when many other crypto platforms, such as BlockFi, fo ..read more

On June 27, 2023, the Federal Trade Commission (“FTC”) announced a proposal to make sweeping changes to the Hart-Scott-Rodino (“HSR”) premerger notification program.[1] The newly proposed requirements and filing process will likely increase the number of hours it takes to prepare the forms by sixfold and add significant financial burden on future dealmakers.[2] The HSR Act is an antitrust law that generally requires parties to report large transactions—currently set at transactions valued over $111.4 million dollars—to the FTC and the U.S. Department of Justice Antitrust Division so that the a ..read more

In September 2023, the Federal Trade Commission (“FTC”) initiated an antitrust suit against Amazon, accusing the company of illegally maintaining a monopoly in the “online superstore” and “online marketplace services” markets.[1] But what exactly does the FTC allege Amazon is doing to illegally maintain a monopoly? Exclusionary Anti-Discounting Conduct with third-party sellers First, the FTC claims Amazon punishes third-party sellers for offering lower prices on other websites.[2] Third-party sellers sell directly to consumers on Amazon Marketplace.[3] Amazon uses their Competitive Monitoring ..read more

When it comes to antitrust laws and their impact on American sports leagues, baseball is in a verifiable league of its own. For a century, professional baseball has held a unique exemption from antitrust laws, making its business distinctly immune from the pressure of Section 1 of the Sherman Act in ways that no other American sports league is.[1] While it has long been the subject of debate, and has survived several past challenges, its most recent challenge, posed by several formerly affiliated minor league baseball teams, has led to a petition for certiorari.[2] In addition, this case has b ..read more

Over the last decade, commercial litigation funding has become an essential tool for plaintiffs to pursue meritorious legal claims.[1] Litigation funding is when a third party, typically an investor and non-party to the suit, provides cash in the form of a nonrecourse loan for a share of the proceeds recovered from resolving the dispute.[2] While most lawyers believe that litigation funders enable plaintiffs with meritorious legal claims access to justice, some remain skeptical.[3] Skeptics raise concerns about plaintiffs losing control of the litigation, leaking sensitive information, complic ..read more

On September 13, 2023, Stoner Cats, the popular animated series centered around five cannabis-loving cats, voiced by an A-list cast of celebrities, became the latest digital asset company targeted by the Securities and Exchange Commission (“S.E.C.”) for allegedly offering unregistered securities.[1] In its Press Release, the S.E.C. charged Stoner Cats 2 L.L.C. (“SC2”) for allegedly offering unregistered digital asset securities as non-fungible tokens (“NFTs”).[2] While SC2 did not admit any guilt regarding the S.E.C.’s order, it agreed to pay a one-million-dollar fine and destroy all NFTs in i ..read more

After five months of intense negotiation, a tentative agreement between entertainment companies and the unions representing film and television writers marked the end of the first work stoppage in Hollywood in over a decade.[1] The strike began on May 2, 2023, and came to an end on September 24, 2023, spanning a lengthy five months. Terms and Implications Perhaps the most interesting aspect of the new contract are the limits placed on the use of artificial intelligence (AI). Many industries are experiencing concern over the potential implications of AI use in the workforce and the effects it m ..read more

The United States spends more on healthcare than any other country.[1] In 2021, health spending per person in the United States was nearly twice that of the next highest country.[2] A significant driver of health spending in the United States is the astronomical price of pharmaceutical drugs.[3] On average, prescription drug prices are 2.56 times higher in the United States than in other high-income nations.[4] Historically, pharmaceutical companies, providers, and insurers have negotiated drug prices behind closed doors. In August of 2022, Congress passed the Inflation Reduction Act (the “Act ..read more