ANTITRUST IMMUNITY UP IN SMOKE: PREEMPTION, STATE ACTION, AND THE MASTER SETTLEMENT AGREEMENTMaster Settlement Agreement • December 12th, 2012
Contract Type FiledDecember 12th, 2012The federal antitrust laws, particularly the Sherman Act, are “the Magna Carta of free enterprise.”1 They regulate various business prac- tices based on the likelihood that those practices harm consumers by re- ducing economic efficiency.2 These laws target private actors.3 Some- times, state regulation of business also has anticompetitive effects that harm consumers. The state action doctrine allows a state to take these