Tennessee Attorney General Herbert H. Slatery III announced today that the U.S. District Court for the District of Columbia has issued an order temporarily blocking the merger of Sysco and US Foods. The court order states that a preliminary injunction is in the public interest as there "is a reasonable probability that the proposed merger will substantially impair competition."
Tennessee, along with ten other states, joined the Federal Trade Commission (FTC) in seeking a temporary restraining order and preliminary injunction to prevent the proposed merger between the nation's two largest food distributors until the FTC completes an administrative hearing. The hearing, scheduled to begin July 21, 2015, will determine whether the proposed combination would violate the antitrust laws...read the Sysco, US Foods release.
Tennessee Attorney General Herbert H. Slatery III and Bill Giannini, Acting Director of the Tennessee Division of Consumer Affairs today announced a settlement with RadioShack over the sale of its customers' personally identifiable information. Tennessee played a leading role in a thirty-eight state coalition to oppose the sale of consumer data.
The settlement will limit information RadioShack can share with new owner General Wireless. General Wireless will only use the information they obtain from RadioShack in the continued operation of the RadioShack brand...read the Radio Shack release.
Attorney General Herbert H. Slatery III, along with attorneys general from 30 other states, today announced a settlement with three national credit reporting agencies — Equifax Information Services LLC, Experian Information Solutions Inc., and TransUnion LLC.
The settlement requires the credit reporting agencies to pay the participating states $6 million and to make a number of changes to their business practices. Tennessee will receive $157,000 for its participation in the investigation...read the credit reporting agencies release.
Consumers harmed by mobile cramming practices now eligible for refunds
Tennessee Attorney General Herbert H. Slatery III and Bill Giannini, acting Director of the Tennessee Division of Consumer Affairs today announced settlements with Sprint Corporation ("Sprint") and Cellco Partnership d/b/a Verizon Wireless ("Verizon") that include $158 million in payments. The settlement with the state of Tennessee, the other 49 states, and the District of Columbia resolves allegations that Sprint and Verizon placed charges for third-party services on consumers' mobile telephone bills that were not authorized by the consumers, a practice known as "mobile cramming."
Cramming on mobile phone bills typically involves a $9.99 per month fee for "premium" text message subscription services (also known as "PSMS" subscriptions) such as horoscopes, trivia, and sports scores that the consumers have never heard of or requested. ...read the Sprint, Verizon release.
Company allegedly used deceptive business practices to target military families
Middle Tennessee auto dealer, Wholesale Inc., has agreed to immediately change its advertising practices and pay the State of Tennessee $50,000, Attorney General Herbert H. Slatery III announced today.
A Davidson County Court approved the settlement between Wholesale, Inc., the Tennessee Attorney General's Office, and the Tennessee Division of Consumer Affairs. The agreement centers around two advertising mailers sent to would be customers. One of the mailers specifically targeted service members living near Fort Campbell...read the Wholesale, Inc. release.
Tennessee Attorney General Herbert Slatery, along with ten other Attorneys Generals, joined the Federal Trade Commission (FTC) today in seeking a temporary restraining order and preliminary injunction to prevent the proposed merger of Sysco and US Foods pending the FTC's administrative proceeding. The States and the FTC allege the merger would violate antitrust laws by significantly reducing competition nationwide and in 32 local markets for broadline foodservice distribution services, and that foodservice customers, including restaurants, hospitals, hotels, and schools, would likely face higher prices and diminished services.
"The proposed merger would result in one foodservice distributor controlling 81% of the distributor market in Memphis," Attorney General Slatery said. "This would have an obvious and adverse effect on businesses and consumers in the Memphis area so today Tennessee has joined the FTC and the other states to protect Tennessee's interest in maintaining a competitive market in this industry segment."...read the Sysco, US Foods release.
Tennessee Attorney General Herbert Slatery announced today that Tennessee, the U.S. Department of Justice, 18 states and the District of Columbia have reached a settlement with Standard & Poor's Financial Services LLC (S&P) resolving allegations that S&P misled investors when it rated structured finance securities in the lead-up to the 2008 financial crisis.
The settlement requires S&P to pay $1.375 billion to the states and the Department of Justice. Tennessee will receive $25 million for its role as a lead state in the enforcement actions against S&P...read the S&P release.