Antitrust and Competition

Cornerstone Research provides economic analysis for litigation matters and government investigations involving proposed mergers and allegations of anticompetitive horizontal conduct or monopolization.

Our staff and experts have worked on class certification, liability, and damages issues in antitrust and competition matters in a range of industries, including technology, financial institutions, agriculture, telecommunications, transportation, and pharmaceuticals. We have also consulted to the parties and agencies in merger matters involving horizontal and vertical issues.

We also have experience with cases at the intersection of antitrust with intellectual property and matters involving labor and financial markets.

 

Antitrust and Competition Capabilities

Price Fixing and Horizontal Conduct

Our experience in matters involving allegations of anticompetitive horizontal conduct includes cases in which plaintiffs alleged price fixing, agreements to allocate territories or customers, or group boycotts. We have worked on major cases for the joint defense and for individual clients including recent cases involving labor markets, payment cards, energy, pharmaceuticals, financial instruments, and auto parts. In these and other assignments, we have assessed the economic incentives of the alleged participants, tested hypotheses that distinguish competitive from collusive behavior, and assessed the likelihood and quantum of damages.

Monopolization and Exclusionary Practices

We have analyzed claims of monopolization, tying, exclusive dealing, and anticompetitive pricing practices, such as loyalty or volume discounts and bundled rebates. We have assessed whether these practices can be attributed to competition among firms, are the result of hard bargaining between buyers and sellers, and have efficiencies that outweigh any potential harm to competition. Our recent experience includes cases involving high-technology products and services, pharmaceuticals, and health insurance.

Class Certification

Cornerstone Research has worked on many direct and indirect purchaser class certification matters. Our case experience and analytical breadth enables us to meet the changing demand for rigorous empirical and conceptual assessment of both the questions of common impact and common proof and of the merits issues that bear on those questions. Recently, we have assisted counsel in antitrust matters involving mobile devices, pharmaceuticals, and employment practices.

Mergers and Acquisitions

We have analyzed the potential competitive effects of horizontal and vertical mergers in the context of government investigations and private litigation in the United States and Europe. We apply economic theory and quantitative economic methods to define relevant markets, identify close competitors, determine competitive interactions, analyze potential price impacts and potential for foreclosure, and assess whether there are efficiencies associated with the proposed collaboration.

Failing Firm Analysis in Mergers

Cornerstone Research experts have testified on matters involving failing firm defenses and exiting assets arguments in a number of industries, including healthcare, finance, and technology. Our experts have assisted antitrust authorities in evaluating the merits of failing firm claims and consulted to merging parties arguing the failing firm defense affirmatively. Assessing failing firm arguments from both the enforcement agencies’ and merging parties’ perspectives gives us distinct insight into the rigorous demands of this defense.