United States: Antitrust/Competition Law

A federal judge in New York certified two classes of cryptocurrency buyers against Tether and Bitfinex in a landmark case alleging market manipulation through unbacked stablecoin issuance. The certification order narrowed the plaintiff classes while preserving key causation defenses for summary judgment, fundamentally reshaping how crypto companies should approach class action litigation risk.

The U.S. Department of Justice has introduced a new "Expedited Consideration" fast track in its 2026 Model Timing Agreement for Hart-Scott-Rodino Second Request investigations, offering merging parties a formal pathway to resolve antitrust concerns through targeted document production rather than full compliance. This structural change establishes defined deadlines and procedures for what was previously an informal "quick look" process, potentially saving companies months of time and millions in costs.

The U.S. Court of Appeals for the 2nd Circuit has affirmed a preliminary injunction against Nielsen in a landmark constructive tying case, establishing that pricing differentials alone can constitute illegal tying under the Sherman Act when they leave buyers with no economically rational alternative. This ruling carries significant implications for data, analytics, and subscription-based businesses that employ bundled pricing strategies, as it confirms that antitrust liability can arise from pricing structu