Alleging Merely Parallel Conduct Held Inadequate
June 28, 2007
Source: The New York Law Journal. Reprinted with permission.
The U.S. Supreme Court ruled that a complaint alleging that telecommunications firms refrained from entering one another's territory was insufficient to assert an antitrust violation without facts indicating that a conspiracy was "plausible." The High Court also decided that securities law and regulations implicitly precluded antitrust claims against underwriters of initial public offerings (IPOs) of high-tech stocks.