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5.29.26
Insights from the 2026 FTC Workshop on Last-Minute Antitrust Remedy Proposals
On May 20, 2026, the Federal Trade Commission (FTC) hosted “Eleventh-Hour Antitrust Remedy Proposals and Litigating the Fix” Workshop, which provided meaningful insight into how the agency is likely to approach merger remedies under its current leadership. Chairman Andrew Ferguson delivered the opening remarks, and Commissioner Mark Meador gave the closing remarks.
Client Highlights
3.18.26
Compass Voluntarily Dismisses Antitrust Suit Against Zillow After Firm Defeats Preliminary Injunction
Following Zillow’s victory over Compass's preliminary injunction (PI) motion on all claims on February 6, 2026, Compass voluntarily dismissed its antitrust lawsuit against Zillow on March 18, 2026.
Client Highlights
3.03.26
Wilson Sonsini Advises Versori on Acquisition by Avalara
On February 27, 2026, Avalara, the leading provider of cloud-based tax compliance automation software, announced that it acquired Versori Group, an integration platform company specializing in automated connector development powered by agentic AI. Wilson Sonsini Goodrich & Rosati advised Versori on the transaction.
Alerts
2.18.26
Federal Court Vacates FTC’s 2024 HSR Form Rule; Order Stayed Seven Days Pending Appeal
On February 12, 2026, Judge Jeremy D. Kernodle of the U.S. District Court for the Eastern District of Texas granted summary judgment to plaintiffs U.S. Chamber of Commerce and other business groups, and vacated the 2024 Federal Trade Commission (FTC) rulemaking that significantly revised the Hart-Scott-Rodino (HSR) reporting requirements. The court concluded that the FTC exceeded its statutory rulemaking authority when it implemented the HSR reporting change, and such a change was arbitrary and capricious under the Administrative Procedure Act (APA). The court stayed its order for seven days to allow the FTC to seek an emergency appeal to the U.S. Court of Appeals for the Fifth Circuit. If the Fifth Circuit does not grant emergency relief before February 19, 2026, the current HSR rules will be vacated, and HSR reportable transactions will be filed under the HSR rules that were in effect prior to February 10, 2025, when the new HSR reporting rules went into effect.
Client Highlights
12.02.25
Wilson Sonsini Advises SteelEye on Merger with FundApps
Wilson Sonsini’s London-based M&A team advised SteelEye, a leading trade and communications surveillance and data analytics platform, on its merger with FundApps, a provider of compliance monitoring and regulatory reporting solutions for the global financial services industry. Backed by FTV Capital, the merger brings together two of the RegTech sector’s most innovative providers to create a single, end-to-end compliance solution for clients across the buy-side and sell-side.
Client Highlights
10.22.25
Wilson Sonsini Advises Phare Health on Acquisition by R1
Wilson Sonsini’s London-based M&A team advised Phare Health Ltd, a healthcare technology company building AI-native solutions for inpatient coding and clinical documentation improvement, on its sale to R1 (an industry leader in managing and intelligently automating healthcare revenue management).
Alerts
4.15.25
States Expand Premerger Filings Family by Adopting “Baby-HSR” Laws to Review More Transactions
In a growing trend, states are requiring more premerger filings by enacting “baby-HSR” laws modeled after the federal Hart-Scott-Rodino (HSR) Act. These state-level statutes require parties to certain mergers and acquisitions to make an informational filing and, in certain cases, observe a waiting period before a transaction can be completed. While most state-specific laws have been limited to transactions involving the health care sector, Washington state is now the first state to expand their health care provider-focused statute to also capture transactions across all industries where one of the parties has its principal place of business located in the state or has significant annual sales in the state. The law goes into effect on July 27, 2025.1 Other states may follow suit to require filings in connection with transactions across all industries based on a similar “nexus” with the state.
Alerts
4.04.25
Antitrust Heads Offer Enforcement Insights to Legal Industry, Sidestepping Traditional ABA Gathering
Breaking from longstanding tradition, the U.S. Department of Justice Antitrust Division (DOJ) and the Federal Trade Commission (FTC) both recently withdrew their attendance and speakership from the American Bar Association Antitrust Law Section 2025 Spring Meeting, a premier three-day conference for antitrust law professionals, mere weeks before the event was scheduled to take place from April 2-4. The withdrawal decision, made by new President Trump-appointees FTC Chairman Andrew Ferguson and DOJ Assistant Attorney General (AAG) Gail Slater, was based on their concerns over political bias within the ABA, including the ABA’s lawsuit against the Trump administration regarding the withholding of foreign aid payments.1
Alerts
12.18.24
Shot, Chaser: FTC Sues Alcohol Supplier Under Controversial Pricing Law, Dissenting Commissioner Offers Detailed Defense
On December 12, 2024, the Federal Trade Commission (FTC) sued Southern Glazer’s Wine and Spirits, LLC (Southern) in the Central District of California for alleged price discrimination, initiating the first federal government enforcement action under the Robinson-Patman Act (RPA) in nearly 25 years.1 Much ink was spilled across statements issued by FTC Commissioners Alvaro Bedoya, Andrew Ferguson, and Melissa Holyoak about the history of the enactment and enforcement of the RPA and various statutory interpretation arguments. That commentary is certainly interesting reading to better understand dueling views on the origin and purpose of the RPA, but the key takeaways for suppliers and retailers assessing legal risk under the RPA are: the RPA remains good law, the FTC has delivered on its promise to revive enforcement, and the incoming Chair for the Trump Administration—Commissioner Ferguson—is open to future RPA enforcement, particularly when the favored buyer has market power.
Alerts
7.08.24
"Chevron is overruled": How Loper Bright Will Change the Regulatory Law Landscape
In a decision with far-ranging implications for federal administrative law, the United States Supreme Court issued its long-awaited ruling in Loper Bright Enterprises v. Raimondo (Loper Bright).1 The Supreme Court’s six-Justice majority held that the Administrative Procedure Act (APA) requires courts interpreting agency regulations to determine independently whether the agencies have acted within their statutory authority, even where the statute at issue is ambiguous. In so holding, the Court overruled its 1984 decision in Chevron USA v. Natural Resources Defense Council, which for the last four decades had governed thousands of cases involving federal agency interpretations of ambiguous laws.
Alerts
1.23.24
2024 HSR Act Adjusted Filing Thresholds
On January 22, 2024, the Federal Trade Commission (FTC) released the revised Hart-Scott-Rodino (HSR) Act jurisdictional thresholds for 2024. The FTC is required by law to revise the HSR Act monetary jurisdictional thresholds each year based on changes in the gross national product. The revised thresholds will become effective 30 days after notice is published in the Federal Register and will apply to transactions closing on or after the effective date. The 2023 thresholds will remain applicable for transactions that close before the effective date.
Client Highlights
1.19.24
Wilson Sonsini Advises Pismo on $1 Billion Acquisition by Visa
On January 16, 2024, Visa announced it has completed its acquisition of Pismo, a global cloud-native issuer processing and core banking platform in an all-cash deal worth $1 billion. Wilson Sonsini Goodrich & Rosati acted as lead deal counsel to Pismo on the transaction.
The combination of Visa and Pismo will provide clients with core banking and card-issuer processing capabilities across all product types via cloud native APIs. Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment schemes and RTP networks for financial institution clients. Pismo will retain its current management team led by Ricardo Josua.
The combination of Visa and Pismo will provide clients with core banking and card-issuer processing capabilities across all product types via cloud native APIs. Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment schemes and RTP networks for financial institution clients. Pismo will retain its current management team led by Ricardo Josua.