Antitrust Matters
Representative cases:
Ticor Title Insurance Co. v. Brown, 511 U.S. 117 (1994). This was a price-fixing case against various title companies on behalf of Arizona and Wisconsin residents in which the Firm was co-counsel for the class. In a landmark decision (not reviewed by the Supreme Court), the Ninth Circuit held that a 1985 settlement of a class action against the same defendants was not res judicata as to damage claims, because the earlier settlement did not provide the right to opt-out to those who might wish to pursue damage claims. 982 F.2d 386 (9th Cir. 1992). The Brown case was settled for cash and benefits worth in excess of $100,000,000.
In re Commodities Exchange Rate Litigation, 372 F. Supp. 1349 (N.D. Ill. 1974). This was an antitrust action in which the plaintiffs sought and obtained, as a result of settlement, injunctive relief that eliminated fixed brokerage rates on commodities transactions effected on various commodities exchanges in the United States. Then District and now Circuit Judge Bauer described the case as one of the most significant pieces of litigation pending in the Northern District of Illinois, if not the United States, because the entire industry had been restructured.
Phemister v. Harcourt Brace Jovanovich, 1984-2 Tr. Case. & 66,234 (N.D. Ill. 1984). The firm was co-lead counsel for a class of more than 150,000 lawyers who had taken the defendants' bar review courses. The case was settled on the eve of trial after seven years of vigorous litigation.The benefit conferred upon the class, consisting of cash and discount rights, was found to have a potential value of nearly $10,000,000. Judge Moran stated that the Firm was a highly skilled class action law firm with a record of success in antitrust and other class cases.
In re Corrugated Container Antitrust Cases, 643 F.2d 196 (5th Cir. 1981). The firm represented a sub-class of price fixing victims and was instrumental in obtaining significant judicial relief for the sub-class.
Mazur v. Behrens, 70 C 3111 (N.D. Ill.). This was one of the first federal antitrust class actions charging that a combination of suburban real estate brokers, acting through a listing service, violated the antitrust laws by agreeing upon the commissions to be charged to sellers of commercial and residential real estate in the northwest suburbs of Chicago. The case was settled by a consent decree providing significant monetary benefits to the class members and enjoining the defendants from establishing agreed commission schedules.
Public Offering Fee Antitrust Litigation, 98 Civ. 7890. The firm is lead counsel to a putative class of individuals and entities that purchased shares in Initial Public Offerings of securities. The class seeks injunctive relief under the federal antitrust laws to prevent defendants (the major U.S. investment banking firms) from fixing the price of underwriting services in connection with initial public offerings of securities. This case is pending.
Alexander v. Phoenix Bond & Indem. Co., 149 F. Supp. 2d 989, 1010 (N.D. Ill. 2001) (Andersen, J.) (denying in part defendants' motion for summary judgment). Lead counsel in real estate tax auction price fixing case under Section 1 of the Sherman Antitrust Act on behalf of 28,000 Cook County property owners. Case settled with approximately $2 million in relief for property owners (Mr. Watkins' prior firm).