Antitrust and Competition

Our antitrust group is widely recognized as a leading litigation practice, representing clients in complex matters across the U.S., U.K., and globally. We handle cutting-edge issues such as monopolization, price fixing, merger litigation, no-poach agreements, labor market disputes, and challenging class actions.

We adopt a holistic approach to litigation, collaborating with our top-tier appellate lawyers and class action experts from the outset to craft effective strategies. This ensures our clients are well-positioned for favorable outcomes at every stage of litigation. Our team frequently secures pre-trial dismissals, defeats class certifications, and wins summary judgments. Uniquely, Gibson Dunn’s antitrust litigators are seasoned courtroom lawyers with a proven track record of trial victories.

Our antitrust litigators are integral to Gibson Dunn’s Litigation Practice Group, which has been named The American Lawyer’s “Litigation Department of the Year” four times in the last seven biennial competitions. These awards were fueled by a number of high-stakes antitrust and unfair competition cases. Recent notable achievements include a historic win for Apple in one of the biggest antitrust trials in Silicon Valley history, affirmed on appeal by the Ninth Circuit; defeating class certification and securing a settlement for Merck in an MDL antitrust action with claims exceeding $12 billion; and winning summary judgment for Chevron in a long-running Section 1 price-fixing class action in California federal court.

Representative Matters

• Apple: Secured a landmark victory defeating antitrust attacks from Epic Games relating to Apple’s core business model. Following a three-week bench trial, which was described in the press as “the Super Bowl of Antitrust,” the court ruled in Apple’s favor on all antitrust claims. Affirmed on appeal by the Ninth Circuit.
• Chevron U.S.A.: Won summary judgment for Chevron disposing of Section 1 gas price-fixing class action against California refiners in which plaintiffs claimed more than $65 billion in damages (after trebling).
• Comcast: Obtained a U.S. Supreme Court victory for Comcast when the Court reversed an order certifying a class of 2 million+ Comcast subscribers who alleged anticompetitive conduct but failed to establish that damages could be calculated on a class-wide basis. This case has had far-reaching implications in all class actions nationwide.
• Fender: Representation of leading global musical instrument manufacturer Fender, in a significant and first of its kind litigation in the Competition Appeal Tribunal. This case is the UK’s first collective proceedings seeking damages for retail price maintenance under the new regime.
• Jimmy John’s: Defeated class certification in “no-poach” antitrust class action, the first ruling of its kind. The parties then entered into a stipulation of dismissal approved by the court.
• LIV Golf: Served as lead antitrust counsel representing LIV Golf (and its affiliated entities), the Public Investment Fund of Saudi Arabia, and various professional golfers who play in the LIV golf league, in antitrust and other legal matters relating to LIV Golf’s efforts to start a new premier professional golf tour.  In the federal antitrust case against the PGA tour, Gibson Dunn prosecuted the case adeptly. LIV Golf and PGA Tour reached an agreement that resulted in dismissal of the litigation.
• Merck & Co.: Won a significant victory for Merck in In re Zetia Antitrust Litigation (E.D. Va.), where plaintiffs alleged an unlawful agreement and conspiracy to delay generic competition. Defeated class certification on remand from the Fourth Circuit. Many of the claims settled on the eve of trial in April 2023 as a jury was being selected. Certain individual actions remain pending.
• Novartis: Won dismissal, affirmed on appeal, for Novartis AG’s Sandoz division of an antitrust class action alleging an unlawful reverse-payment settlement of patent litigation involving a biosimilar of AbbVie’s blockbuster Humira, the world’s largest selling drug.
• Novation: Lead counsel for the nation’s largest healthcare GPO, in a $600 million Eastern District of Texas antitrust action, alleging that certain contracting practices constitute unlawful exclusive dealing in violation of Section 1 of the Sherman Act, and challenging bundled discount arrangements under Section 2 of the Sherman Act; two co-defendants settled for cash payments of $49 million and $9 million, respectively; Novation settled the matter days prior to trial with no cash payment.
• Ottogi Corporation and Ottogi America: Complete defense verdict in hours after 5-week jury trial in first of its kind concurrent trial of direct and indirect purchaser antitrust claims.  Jury rejected $415 million in damages (pre-trebling) and found no unlawful agreement in Section 1 conspiracy class actions.
• Trendsettah USA, Inc. v. Swisher International, Inc.: Gibson Dunn was retained handle post-trial proceedings after a jury found against Swisher on antitrust and contract claims brought by an upstart tobacco company.  The Gibson Dunn team unearthed evidence of fraud and misconduct, leading the Court to unwind a $44 million antitrust verdict.
• Community Health Systems, Inc.: After a seven-day hearing, the court found that, although the FTC had established a prima facie case, the defendants had successfully rebutted that presumption. This decision marked a rare finding of rebuttal of government’s case and is one of only a few decisions – in any industry – in which a court has found that defendants had successfully rebutted the government’s prima facie case. The FTC appealed to the Fourth Circuit, which granted a temporary injunction pending appeal. Following issuance of that injunction, Novant terminated the purchase agreement.

Our merger clearance practice features a team of skilled competition lawyers across the United States, Europe, and Asia, leveraging extensive experience with global enforcement authorities. Gibson Dunn adopts a proactive approach to merger clearance, conducting early analyses of potential antitrust issues and engaging with regulators to efficiently secure approval for the largest and most complex transactions.

We represent clients with review of mergers and acquisitions investigated by government agencies, including the U.S. Department of Justice, the U.S. Federal Trade Commission, the European Commission, the U.K. Competition and Markets Authority, China’s State Administration for Market Regulation, and authorities in many other jurisdictions. Our team routinely handles second requests and Phase II investigations, and, when necessary, defends transactions when they are challenged in court. We have unparalleled experience litigating and winning merger challenges, such as the AT&T/Time Warner and T-Mobile/Sprint cases.

Our track record includes securing clearance for some of the most complex global mergers across various industries, often obtaining unconditional clearance even in cases subject to formal second request and Phase II investigations.

Our antitrust teams in the U.S., Brussels, London, Germany, and Asia operate as a single, integrated unit. This global team has extensive “bet-the-company” merger control experience and is frequently called upon to handle cases that encounter difficulties with regulatory agencies. The team includes former officials from the U.S. FTC and DOJ, and the U.K. Competition and Markets Authority (CMA), providing unique insights into regulatory thinking. Our lawyers are known for their teamwork and have built strong, longstanding relationships within the antitrust community, including clients, agency officials, and private practice counterparts.

Integrated within our merger practice, we also manage the growing number of Foreign Direct Investment (FDI) reviews and filings under the new EU Foreign Subsidies Regulation. This integrated approach ensures that additional notification requirements are addressed efficiently and consistently.

Representative Matters

• AbbVie: Represented AbbVie in its $8.7 billion acquisition of Cereval, one of the year’s largest pharma merger, which also cleared after a 2nd Request.
• Amazon: Lead antitrust counsel in Amazon’s $3.9 billion acquisition of One Medical, securing clearance for the company after receipt of a Second Request from the Federal Trade Commission.
• Caisse des Dépôts et Consignations (CDC): Gibson Dunn advised Caisse des Dépôts et Consignations (CDC), a French State-owned financial institution, in connection with the competition aspects relating to its distressed acquisition of a majority stake in French group Orpéa, an operator of healthcare and homes for the elderly in more than 20 countries.
• DaVita: Secured FTC clearance for DaVita, Inc., the largest dialysis provider in the United States, in two of its largest M&A transactions. First secured FTC approval, subject to a Consent Order, for DaVita’s acquisition of University of Utah’s dialysis business. Gibson Dunn then guided DaVita through the FTC process for its proposed joint venture with Medtronic, which transaction forms a large medical device company supplying the dialysis industry. In addition to the U.S., the Gibson Dunn team secured antitrust and FDI clearances by the European Commission, in Brazil, Colombia, Saudi Arabia, Turkey, France, Germany, and Italy.
• Dr. Barbara Sturm: Gibson Dunn advised Dr. Barbara Sturm in connection with the competition and investment control aspects relating to the sale of a majority stake in Barbara Sturm Molecular Cosmetics GmbH to Spanish cosmetics company, Puig, who’s portfolio of companies includes Rabanne, Carolina Herrera, and Charlotte Tilbury.
• Elliott Investment Management L.P.: Advised Elliott in relation to the competition and foreign investment aspects of its $7.1 billion investment in Syneos Health, Inc. (previously listed on the Nasdaq), an acquisition of joint control alongside Patient Square Capital and Veritas Capital.
• energyRe: Gibson Dunn advised energyRe, a developer of large-scale, renewable clean energy solutions, in connection with the competition aspects concerning its $1.2 billion capital raise, that includes equity commitments from Glentra Capital and Elia Group.
• Gala Coral: Represented in its successful £2 billion merger with Ladbrokes plc (a deal that had previously been blocked by the U.K.).
• General Electric (GE Healthcare): Represented GE Healthcare, a leader in the supply of ultrasound equipment globally, on the global merger control and FDI aspects of its successful $1.45 billion acquisition of BK Medical, a leader in advanced surgical ultrasound.
• Heska: Gibson Dunn advised Heska, a provider of veterinary diagnostic and specialty products, in connection with the competition aspects relating to its US $1.5 billion acquisition by Mars, Inc., a confectionery, food and pet care company.
• Marriott International:  Lead global antitrust counsel for Marriott International in its $13.8 billion acquisition of Starwood Hotels & Resorts, which is the largest transaction in the history of the hotel industry. Secured unconditional clearance from authorities representing 44 countries on five continents.
• Merck Animal Health: Advised Merck Animal Health, a provider of veterinary pharmaceuticals and technology, as antitrust counsel on its US$1.3B acquisition of Elanco Animal Health’s aqua business, a portfolio of medicines, vaccines and nutritionals for aquatic species.
• Merck & Co.: Advised in relation to the global merger control aspects of its $11.5 billion acquisition of Acceleron Pharma Inc., a publicly traded biopharmaceutical company.  Gibson Dunn lawyers also have represented Merck in securing FTC and ex-US antitrust clearances for Merck in numerous strategic acquisitions, including it $10.8 billion acquisition of Prometheus BioSciences, and various acquisitions in the oncology and animal health sectors.
• News Corp: Represented News Corp. on the merger control aspects of its $1.15 billion acquisition of IHS Markit’s Oil Price Information Service and Coal, Metals and Mining business in the context of divestments required in order to achieve U.S. DOJ, European Commission and UK Competition and Markets Authority clearances of the merger between S&P and IHS Markit.
• Pioneer Natural Resources: Served as antitrust counsel to Pioneer Natural Resources in its $64.5 billion merger with ExxonMobil, which the FTC cleared.
• RedBird IMI: Gibson Dunn advised RedBird IMI in connection with the competition and regulatory aspects concerning its acquisition of All3Media, one of the world’s leading independent television production and distribution companies, from Warner Bros. Discovery, and Liberty Global. All3Media, based in London, has over 50 production labels under its umbrella and produces leading TV shows such as The Traitors, Squid Game, Gogglebox, and Call the Midwife.
• Triton: Gibson Dunn advised Triton in connection with the competition aspects relating to the sale of Norres Baggerman Group to investment firm Nalka DACH Investments SA SICAF-RAIF.
• Uber: Advising in in connection with Grab’s acquisition of Uber’s Southeast Asia operations. This is by far the most significant merger that antitrust regulators in Southeast Asia have ever had to review. It has resulted in landmark decisions in several jurisdictions, including Singapore, the Philippines and Vietnam, and prompted regulators elsewhere to review their regulatory framework.
• Gala Coral: Represented Coral, the third largest operator in the U.K. betting market, with Ladbrokes, the second largest player. The Phase II clearance established the key precedent in the U.K. for retail mergers.
• Viagogo: Represented the largest secondary live event ticketing supplier in the UK, on its $4.5 billion merger with StubHub, the number two operator, including its businesses in the U.K., Europe, South America, and Asia.
• VMware: Advised VMware, a leading innovator in enterprise software, on the competition aspects of its approximately $61 billion cash and stock acquisition by Broadcom Inc., before antitrust and FDI regulators across the globe, including in the U.S., EU, U.K., China, Australia, Brazil, Canada, Israel, Japan, New Zealand, South Africa, South Korea, and Taiwan.
• Xylem, Inc.: Gibson Dunn advised Xylem Inc., a global water technology company, in connection with the competition and investment control aspects relating to its US $7.5 billion acquisition of Evoqua, a leader in mission-critical water treatment solutions and services. The Gibson Dunn competition team advised on and successfully obtained clearances from a number of antitrust and FDI authorities around the world in relation to the transaction.

Described by Global Competition Review as “one of the best cartel defense shops in the world,” Gibson Dunn boasts a premiere international antitrust investigations practice. For 16 consecutive years, Chambers has ranked Gibson Dunn as a Band 1 antitrust cartel practice.

Few, if any firms, have defended as many corporations in cartel matters or successfully obtained non-prosecution protection on behalf of as many companies and individuals as Gibson Dunn.

We have represented clients in over 100 cartel investigations conducted by the DOJ and competition authorities abroad and have successfully secured full immunity for more than 50 companies and their officers, directors and employees in roughly 20 countries on five continents.

Gibson Dunn has extensive experience representing clients in dozens of antitrust investigations by the U.S. Department of Justice. We have secured the closure of numerous investigations against companies and their senior executives, even following the execution of search warrants or the issuance of grand jury subpoenas. For example, we successfully advocated for the closure of DOJ criminal “no-poach” labor market investigations involving a Fortune 10 client, a Fortune 500 client, a national health care provider, and a senior executive of a publicly-traded company.

In the European Union, we represent clients in cartel investigations by the EU and various Member States. In a recent investigation, Gibson Dunn represented a global financial service client in conjunction with investigations by the European Commission and six EU member-states, with each matter being closed or our client receiving immunity from any fines.

Gibson Dunn’s expertise truly shines and is without equal in complex, multijurisdictional cartel matters. With our global footprint, Gibson Dunn can directly represent clients in more than a dozen jurisdictions. In other jurisdictions, the firm has longstanding relationships with local counsel who have a proven track record of collaborating with our Firm to achieve exceptional results for our clients. In recent years, we have expanded this role to serve as “bridge counsel“ for multinational companies involved in cartel investigations outside of the U.S. and E.U., developing the strategy with government enforcers, overseeing the activities of local counsel, and meeting with competition authorities in Asia, Europe, and Latin America.

Our clients span a wide range of industries, including:

• Agriculture
• Construction
• Consumer goods
• Engineering
• Financial services
• Food
• Healthcare providers
• Medical devices
• Private equity
• Retail
• Technology and AI
• Transportation
• Travel and Hospitality

Our lawyers represent clients involved in antitrust investigations and enforcement proceedings by government enforcers around the world. Our representations have included alleged price fixing, market/customer allocations, bid rigging, monopolization, abuse of dominance, vertical restraints, tying, exclusive dealing, and resale price maintenance.

Representative Matters

• Financial Services Company: Represented in parallel investigations by the European Commission and six EU Member States. All of the investigations have been closed or resulted in full immunity for our client.
• Healthcare Company: Represented a recently acquired healthcare services provider in conjunction with a DOJ Antitrust criminal investigation, in which another competitor was cooperating with the government. Following an extensive internal and government investigation, we successfully secured the closure of the investigation without any charges or public announcements.
• Construction Services Provider: Represented a private equity portfolio company in an expansive DOJ criminal antitrust investigation exploring potential market allocation agreements. Despite a far-reaching government investigation, Gibson Dunn secured the closure of the matter without charges against the company or any of its executives.
• Healthcare Provider: Represented a large, regional healthcare system following receipt of a DOJ grand jury subpoena as part of a criminal antitrust investigation. Gibson Dunn successfully advocated for closure of the investigation after an extensive investigation.
• Fortune 500 Technology Company: Secured full immunity for a client involved in an expensive antitrust investigation in India exploring potential conduct with resellers. Gibson Dunn partnered with local counsel to develop the investigation and remediation strategy.
• Healthcare Provider: Represented a national healthcare provider in a DOJ criminal antitrust investigation exploring potential “no-poach” agreements with competitors. Despite other companies being charged, Gibson Dunn secured the closure of the investigation for our client.
• Pharmaceutical Company: Gibson Dunn secured a declination and closing of a criminal antitrust investigation conducted by the Australian Competition and Consumer Commission (ACCC). The ACCC’s investigation was launched with search warrants at the client’s offices in Australia and was closed within 18 months after the ACCC declined to press charges. Gibson Dunn partnered with local counsel to conduct the internal investigation and advocate before the ACCC prosecutors and their supervisors.

Gibson Dunn is a leading firm when it comes to state aid matters. Based in Brussels, our EU state aid team serves clients in a broad variety of sectors (such as energy, infrastructure, technology, media, telecommunications, e-commerce, freight transport, financial services) in complex cases before the European Commission, the EFTA Surveillance Authority and the European Courts.

Our team also frequently counsels clients on the EU issues affecting their strategic market interests or business models, converting the most difficult challenges into opportunities.

Global corporations, industry associations and government agencies regularly turn to us for strategic advice when faced with challenging state aid concerns. We regularly defend clients from a wide variety of business sectors before European courts and counsel them on the EU issues that may impact their business model and interests.

Our State aid practice provides us with the deep understanding required to advise on the new EU Foreign Subsidy Regulation.