Tag Archives: FTC

FTC Pressure Forces DFS Giants to Cancel Merger Plans

Last November, FanDuel and DraftKings announced their plan to merge, and sought to combine the two largest operators of paid fantasy daily sports. The agreement came amidst scrutiny from several state attorneys general and other regulators over the legality of daily fantasy sports. On July 13, 2017, the two daily fantasy sports giants announced they would no longer pursue their plan to join forces. The most recent announcement came after the FTC filed a lawsuit against DraftKings and FanDuel in June, saying the two…

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Update: Federal Judge Grants Temporary Restraining Order Blocking FanDuel DraftKings Merger

U.S. District Court Judge Ketanji Brown issued a temporary restraining order preventing DraftKings and FanDuel from completing their merger as the Federal Trade Commission (FTC) seeks a preliminary injunction. The proposed merger would keep both websites operational. DraftKings CEO Jason Robbins will be the CEO of the merged company and FanDuel CEO Nigel Eccles will become Chairman of the Board. Even though both companies will still be operating and consumers will have a choice of which to use, the FTC argues the merger will…

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FTC Seeks Injunction on FanDuel and DraftKings Merger

The Federal Trade Commission (FTC) and the attorney generals for California and the District of Columbia will file a complaint to prevent the merger of FanDuel and DraftKings while the FTC is reviewing the merger process. FanDuel and DraftKings make up 95 percent of the daily fantasy sports market. The FTC argues the merger would “deprive customers of the substantial benefits of direct competition.” The companies announced the merger in November 2016, in large part to cut their legal bills. At the time, the…

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FTC and Montel-Endorsed Apparel Company Settle Lawsuit

On Tuesday December 1, 2015, the Federal Trade Commission, the government body behind legal advertising in the United States, announced it had reached a $1.35 million settlement with Tommie Copper, a clothing company who had advertised its garments could alleviate body aches and pains special copper-infused compression wear. The announcement of the settlement comes on the heels of the FTC filing suit against the company last week in a New York Federal Court. The FTC claimed that the company committed fraud through its advertisements, claiming…

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FTC Will Continue to Monitor Sports Equipment Concussion Protection Claims

Last week, the Federal Trade Commission (FTC) testified before Congress about its efforts to ensure the accuracy of concussion protection claims made in connection with sporting equipment.  Richard Cleland, Assistant Director for Advertising Practices in FTC’s Bureau of Consumer Protection, testified before a Congressional Subcommittee and outlined efforts the agency has taken. As concussion awareness has grown, manufacturers have increasingly been making claims about the concussion protection ability of their products.  “Given the dangers that concussions pose for young athletes engaged in sports, it is…

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