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FTC Will Sue to Block Tempur Sealy’s Mattress Firm Buy

Livemint

Livemint · 1y ago

FTC Will Sue to Block Tempur Sealy’s Mattress Firm Buy

The US Federal Trade Commission (FTC) has decided to sue Tempur Sealy International in order to block its $4 billion merger with Mattress Firm. The FTC claims that the merger would give the combined company too much power, allowing them to stifle competition and raise mattress prices for consumers. Tempur Sealy has denied these claims and is willing to make changes to address the FTC's concerns. This lawsuit would be a rare challenge to a vertical merger, which involves companies in the same supply chain but not direct competitors.

Related News

US FTC was poised to reject Amazon acquisition of iRobot

Economic Times

Economic Times · 1y ago

US FTC was poised to reject Amazon acquisition of iRobot

The Federal Trade Commission (FTC) was considering rejecting Amazon's $1.4 billion acquisition of robot vacuum maker iRobot due to EU antitrust concerns. However, before the decision was made, Amazon and iRobot announced the abandonment of the deal. The FTC had met with Amazon to discuss their recommendation to sue and block the acquisition, and a final meeting was scheduled before possible approval for a legal challenge.

Amazon’s All-Powerful ‘Buy Box’ Is at the Heart of Its New Antitrust Troubles

Wired · 1y ago

Amazon’s All-Powerful ‘Buy Box’ Is at the Heart of Its New Antitrust Troubles

The US Federal Trade Commission (FTC) has filed an antitrust case against Amazon, alleging that the company illegally monopolizes online shopping. The case revolves around Amazon's Buy Box feature, which the FTC claims is used as an anticompetitive weapon. The Buy Box allows Amazon to manipulate consumers and punish sellers offering lower-priced goods elsewhere. The FTC argues that winning or losing the Buy Box can have a significant impact on a seller's business, and Amazon allegedly rigs the contest in its favor. The government is seeking a federal court injunction to change how Amazon operates its store.

Media Matters sues to block FTC probe over Musk's X boycott claims

Economic Times

Economic Times · 2m ago

Media Matters sues to block FTC probe over Musk's X boycott claims

Media Matters is suing to block a U.S. FTC probe, which the group claims is retaliation for criticizing Elon Musk. The FTC demands communications related to alleged advertising boycotts against Musk's platform, X. Media Matters denies coordinating boycotts and accuses the FTC of impeding its media work. This legal battle stems from accusations by X that Media Matters defamed it, linking ads to extremist content, which Media Matters also denies.

Meta sues FTC over its in-house courts

Livemint

Livemint · 1y ago

Meta sues FTC over its in-house courts

Meta Platforms (owner of Facebook, Instagram, and WhatsApp) has filed a lawsuit challenging the constitutionality of the Federal Trade Commission's (FTC) structure. The company argues that the FTC's use of in-house courts violates due-process guarantees as it serves as both prosecutor and judge. Meta is seeking an injunction to block new restrictions proposed by the FTC, including a ban on monetizing data of children and teens under 18. The FTC is aiming to tighten restrictions on Meta by modifying a previous settlement reached in 2020.

Microsoft wins appeal in FTC challenge to $69 billion Activision Blizzard deal

Economic Times

Economic Times · 3m ago

Microsoft wins appeal in FTC challenge to $69 billion Activision Blizzard deal

A federal appeals court upheld a lower court's decision dismissing the Federal Trade Commission's challenge to Microsoft's $69 billion acquisition of Activision Blizzard. The 9th U.S. Circuit Court of Appeals found the FTC had not demonstrated the merger would restrict competition. The FTC sought to block the deal, arguing it could harm Xbox competitors. The acquisition, the gaming market's largest, was approved after international regulatory scrutiny. Microsoft's response was pending.

FTC chair alleges partisan filtering by Gmail; Google says spam filters not ideological - The Economic Times

Economic Times

Economic Times · 17h ago

FTC chair alleges partisan filtering by Gmail; Google says spam filters not ideological - The Economic Times

FTC Chairman Andrew Ferguson accused Gmail of partisan filtering, alleging its spam filters disproportionately block Republican emails while allowing Democratic ones. This claim was made in a letter to Google CEO Sundar Pichai. Google refuted the accusation, stating that its spam filters are non-partisan and based on objective criteria like spam reports. The FTC warned of potential investigations if regulations were violated. A previous lawsuit on similar accusations was dismissed by a judge.

Mark Zuckerberg takes stand to defend Meta against antitrust suit

Economic Times

Economic Times · 4m ago

Mark Zuckerberg takes stand to defend Meta against antitrust suit

Mark Zuckerberg appeared in court to defend Meta in an antitrust trial aiming to potentially dismantle the company. The Federal Trade Commission (FTC) claims Meta created a social media monopoly with acquisitions of Instagram and WhatsApp, using a "buy-or-bury" strategy against competitors. Zuckerberg argued Meta still faces competition from platforms like TikTok. A successful FTC case may force Meta to divest its acquisitions, significantly impacting its business operations and altering Silicon Valley merger practices.

Google to destroy browsing data to settle consumer privacy lawsuit

Economic Times

Economic Times · 1y ago

Google to destroy browsing data to settle consumer privacy lawsuit

Google has agreed to settle a lawsuit for secretly tracking the internet use of people who believed they were browsing privately. The settlement, valued at over $5 billion, requires Google to destroy billions of data records. While Google is not paying damages, individual users will retain the right to sue the company for damages. The lawsuit alleged that Google's analytics, cookies, and apps allowed them to track individuals in private browsing mode, compromising their privacy. As part of the settlement, Google will update its disclosures and allow users to block third-party cookies during private browsing sessions.

PremjiInvest-backed The Sleep Company looks to raise Series D funding

VCCircle

VCCircle · 4m ago

PremjiInvest-backed The Sleep Company looks to raise Series D funding

The Sleep Company, an omnichannel mattress firm supported by PremjiInvest and Fireside Ventures, is planning to raise Series D equity funding. This round of funding may potentially provide an exit opportunity for one of its early investors. Based in Mumbai, the company is looking to bolster its growth and market presence in the industry with the new investment.

Serial spyware founder Scott Zuckerman wants the FTC to unban him from the surveillance industry | TechCrunch

TechCrunch · 1m ago

Serial spyware founder Scott Zuckerman wants the FTC to unban him from the surveillance industry | TechCrunch

Scott Zuckerman, banned from the surveillance industry by the FTC in 2021 after a data breach, seeks to lift or modify the ban, arguing it imposes financial burdens. Zuckerman's past involved running spyware apps leaking private data. Critics, like Eva Galperin, oppose his petition, highlighting repeated infractions despite previous FTC orders. The FTC, under Republican oversight, will review the petition, which could impact Zuckerman's ability to re-enter the surveillance industry legally. Public comments are open until August 19.

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