FTC Blocks $8.5 Billion Merger Between Coach Parent Company Tapestry and Michael Kors Owner Capri
The US Federal Trade Commission (FTC) has blocked the $8.5 billion merger between Coach parent company Tapestry and Michael Kors owner Capri, citing concerns about creating a monopoly. The FTC’s move aims to prevent increased prices and harm to consumers by scrutinizing large deals that could eliminate competition. Capri Holdings and Tapestry have expressed disagreement with the FTC’s decision, emphasizing the pro-competitive nature of the merger. Stay informed with our free daily newsletter for the latest updates.
FTC Files Lawsuit to Block Largest-Ever Supermarket Merger in the US
The FTC has filed a major antitrust lawsuit to block the $24.6 billion merger of Albertsons by Kroger, citing concerns about potential price hikes and negative impacts on consumer choice and product quality. The lawsuit alleges that the merger could lead to higher prices, reduced product variety and quality, and harm to store workers. Despite Kroger’s argument that blocking the merger could result in increased prices, the FTC and several attorneys general are challenging the deal, with significant implications for consumers and workers.
H&R Block Faces Allegations of Deceptive Practices from FTC
H&R Block is facing allegations from the FTC for deceptive marketing and data handling practices. The company is accused of pressuring customers into paying for pricier services by deleting their tax data when attempting to downgrade from more expensive products. The FTC’s complaint also accuses H&R Block of engaging in deceptive advertising for its online tax preparation services, marking the beginning of an administrative process against the company for its unfair practices and deceptive marketing.
CFPB Takes Action Against Performance SLC and Performance Settlement for Deceptive Practices
Over 8,500 consumers affected by Performance SLC and Performance Settlement will receive over $10.9 million in compensation due to illegal and deceptive practices. The Consumer Financial Protection Bureau (CFPB) took action against these companies for charging illegal upfront fees and using deceptive tactics. If you have questions about receiving a refund, you can contact performance_info@rustcfpbconsumerprotection.org or call 1 (888) 396-6086.
The $50,000 Scam: How I Fell Victim to a Cruel Scheme
Learn about one woman’s harrowing experience with a phone scam and the surprising demographics of scam victims. Despite stereotypes, younger, educated individuals are also susceptible to fraud, as this journalist’s personal story demonstrates.
Microsoft Denies Going Back on Word with Job Cuts After Activision Blizzard Deal
Microsoft denies claims by US regulators that it went back on its word by cutting jobs after its purchase of Activision Blizzard, stating that the idea of job cuts did not originate with its takeover. The controversial deal gives Microsoft control of popular games such as Call of Duty, World of Warcraft, and Candy Crush, but the FTC is still asking for the Court of Appeals to halt the deal so it can consider anti-trust implications.
FTC’s Use of Algorithmic Disgorgement in Settlements with AI Companies
January 25, 2024 Volume XIV, Number 25 Welcome to this week’s issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. This week, we discuss the Federal Trade Commission’s (FTC or Commission)…
Fortnite players have until February 29, 2024, to claim portion of $245 million settlement fund
Gamers who have been affected by the controversial in-game purchases in Fortnite now have until February 29, 2024, to claim their portion of the $245 million settlement fund. The original deadline of January 17, 2024, has been extended to allow…
2024: Major Headlines in the Food Industry
Welcome to 2024, where the food industry is already making waves with major headlines. As we dive into the new year, there’s a lot to look forward to in the world of food and agriculture. From unionized grocery store workers…
South Korea’s FTC Slaps Nexon Korea Corp. with Record Fine for Deceptive Business Practices
In a landmark ruling, the Fair Trade Commission (FTC) of South Korea has slapped Nexon Korea Corp. with a hefty fine of 11.6 billion won (approximately $8.85 million) for deceptive business practices. The hefty penalty stems from irregularities related to…