For businesses facing antitrust, litigation, regulatory, or commercial challenges, sound economic analysis is critical. Our team of antitrust and regulatory economists, econometricians, financial economists, and academic affiliates combines sharp economic insights with diverse academic, industry, and subject matter expertise.
We provide litigation support and expert testimony to support clients on antitrust matters, as well as commercial and class action litigation, and we quantify damages in both antitrust and commercial disputes.
ANTITRUST AND COMPETITION
We work on a broad spectrum of antitrust issues, from market definition, market power, and conduct to mergers and acquisitions, and market inquiries, as well as quantification of damages. Key areas include:
- Antitrust damages
- Mergers & acquisitions
- Cartel & anticompetitive agreements
- Monopolization/abuse of dominance.
FTC v. Qualcomm and Apple v. Qualcomm
Managing Director Dr. Tasneem Chipty was one of Qualcomm’s antitrust experts in lawsuits challenging Qualcomm’s licensing practices and use of customer incentive agreements that reference rivals. She and the team studied issues of market definition, market power, and raising rivals costs—accounting for technological innovation in the dynamic modem chipset marketplace. Dr. Chipty also studied Qualcomm’s contracts with Apple, which the FTC characterized as exclusionary contracts.
Consistent with Dr. Chipty’s testimony, the 9th Circuit ruled in favor of Qualcomm (in FTC v. Qualcomm), drawing a distinction between “anticompetitive” and “hypercompetitive” behaviors and concluding that the Qualcomm-Apple contracts did not have an “actual or practical effect of substantially foreclosing competition in the CDMA modem chip market.”
Tobacco Plain Packaging
Dr. Chipty was one of Australia’s experts in series of trade disputes at the World Trade Organization (WTO) involving Australian consumer product packaging legislation. She evaluated the effects of the legislation on product consumption in Australia. Citing heavily to this work, a WTO Panel and the Appellate Body ruled for Australia, finding that the legislation made a meaningful contribution to Australia’s governmental objectives. Dr. Chipty’s work was also influential in the U.K., where the Supreme Court upheld similar legislation in the U.K., citing to her work in Australia.
CenturyLink-Level 3 Merger
Managing Director Dr. Tasneem Chipty led multiple teams to evaluate the competitive landscape for business data services, on behalf of the parties before the U.S. Department of Justice and Federal Communications Commission. The analysis involved assessing the overlap in the parties’ assets in several metropolitan areas and the likely response of rivals to the putative merger.
The deal cleared federal merger review in October 2017.
MOL, K-Line, and NYK Line Joint Venture
Managing Director Dr. Tasneem Chipty and her team analyzed the competitive effects of the formation of a joint venture between three Japanese shipping companies, on behalf of the parties. The assignment involved analyzing competition along the supply chain for transporting refrigerated produce between the U.S. and Japan. Dr. Chipty presented these findings before the U.S. Department of Justice in the summer of 2017.
The transaction was permitted to close in the U.S. without any conditions attached.
U.S., et al. v. Hillsdale Community Health Center, et al.
Managing Director Dr. Tasneem Chipty was the government’s antitrust expert in a lawsuit alleging that two hospitals conspired to allocate customers. Her work focused on the economics of collusion and the role of marketing in patients’ choices of hospital. In addition, she analyzed the overlap of services offered by the hospitals and conducted a diversion analysis to assess whether the Defendants were competitors.
The dispute settled in February 2018 with the Defendants agreeing not to engage in the challenged conduct.
Liberty’s acquisition of AT&T’s Wireline and Wireless Assets in Puerto Rico and the U.S. Virgin Islands
Managing Director Dr. Tasneem Chipty and her team analyzed overlap of fiber networks, pricing, and investments to study the competitive effects of the acquisition, on behalf of the parties. Their work was submitted to both the DOJ and the FCC, who permitted the transaction to close, with divestitures, in October 2020.
U.S. et al. v. Carolinas Healthcare System
Managing Director Dr. Tasneem Chipty was the government’s antitrust expert in its lawsuit against Carolinas Healthcare System that challenged the steering restrictions CHS imposed on health insurers. Her assignment included defining hospital markets, assessing market power, and evaluating the competitive effect of the challenged conduct.
The dispute settled in April 2019 with CHS agreeing to cease the challenged conduct.
Disney divests regional sports networks in acquiring FOX assets
Disney sought regulatory approval to acquire FOX assets, including cable networks, film and television studios, and its 30 percent stake in Hulu. The U.S. Department of Justice conditionally approved the acquisition subject to Disney divesting 22 FOX regional sports networks. Our team supported an academic economist to evaluate the competitive implications of Disney’s proposed acquisition.
Atrium Health agrees to cease challenged conduct
In June 2016, the U.S. Department of Justice and State of North Carolina challenged steering restrictions imposed by Atrium Health (formerly, Carolinas HealthCare System) on health insurers.
Managing Director Dr. Tasneem Chipty was the DOJ’s antitrust liability expert. She submitted testimony that addressed relevant markets, Atrium Health’s market power, and the competitive effects of the challenged conduct.
How We Work
We analyze the competitive landscape and identify potential regulatory risks.
We develop analyses that help decision-makers understand the relevant economic issues.
We develop deeper insights grounded in rigorous economic analyses.
We help educate regulators by presenting analyses to key decisionmakers.
If necessary, we help identify and assess potential remedies, including divestitures.
We think through the economics of alleged wrong doing and ground complaints in rigorous economics.
We identify key data, documents, and deposition testimony that are integral to analyzing the competitive effects of the alleged conduct.
We develop economic analyses that examine relevant theories of harm and expose the flaws in opposing experts’ opinions.
We help assess whether a dispute is best resolved by litigation and analyze settlement scenarios.
We help guide the trier of fact to conclusions supported by valid economic evidence.