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Since early 2022, representatives of the U.S. Department of Justice’s (“DOJ”) Antitrust Division have made a series of increasingly strident public remarks about the Antitrust Division’s newfound willingness to criminally prosecute unilateral conduct that violates Section 2 of the Sherman Act.

Over the last several weeks, federal regulators and prosecutors have sent a strong signal to company executives that they will be using every tool in their arsenal to combat insider trading.

On March 3, 2023, the Department of Justice (“DOJ”) issued long-awaited guidelines on how it will evaluate whether companies have implemented appropriate guidance and controls on the use of personal devices and third-party and ephemeral messaging platforms.

Sharing competitively sensitive information can carry antitrust risks in certain situations. Recently, the Antitrust Division of the U.S. Department of Justice indicated that it will take an increased interest in challenging information sharing as a potential antitrust violation in the health care sector and, possibly, other industries.

The Federal Trade Commission (“FTC”) has revised the thresholds that govern pre-merger notification requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), and Section 8 of the Clayton Act governing “interlocking directorates.”

Just days after securing its first Section 2 conviction in over 40 years in United States v. Zito on October 31, 2022, the U.S. Department of Justice (“DOJ”) again wielded its once-neglected ability to criminally enforce Section 2 of Sherman Act.

On October 31, 2022, the U.S. Department of Justice Antitrust Division (“DOJ”) announced that the president of a Montana paving and asphalt contractor, Nathan Nephi Zito, had pleaded guilty to one count of attempting to monopolize the highway crack-sealing services markets in Montana and Wyoming.

On October 12, 2022, the U.S. District Court for the District of Columbia dismissed the civil Foreign Agents Registration Act (“FARA”) enforcement action against casino developer and former Republican National Committee finance chairman Stephen A. Wynn.

Deputy Attorney General Lisa A. Monaco’s September 15, 2022 memorandum (the “Memo”) clarified a series of Department of Justice (“DOJ”) objectives regarding corporate and individual responsibility that parallel recent statements from leaders in the Division of Enforcement at the Securities and Exchange Commission (“SEC”).

In announcing recent changes to its corporate criminal enforcement policies, the Department of Justice (“DOJ” or the “Department”) continued its forceful “tough on crime” initiatives to deter wrongdoing.

On September 15, 2022, the Department of Justice (“DOJ”) sued to block ASSA ABLOY AB’s (“ASSA ABLOY”) proposed $4.3 billion acquisition of the Hardware and Home Improvement division of Spectrum Brands Holdings Inc. (“Spectrum”).

Earlier this month, Deputy Attorney General Lisa O. Monaco spoke on cybersecurity developments at the International Conference on Cyber Security (“ICCS”); the same day, the U.S. Department of Justice (“DOJ”) released its Comprehensive Cyber Review (the “Cyber Review”).