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8.03.26
Another Signal on the Antitrust Risks of Pricing Algorithms
On July 29, 2026, the U.S. Court of Appeals for the Third Circuit allowed a class action alleging antitrust violations against companies using a common pricing algorithm to proceed.1 The Third Circuit held that when an “algorithm is in effect collecting non-public commercial information from [competitors] and utilizing the collective pot of data to ‘suggest’ prices to each [competitor],” that “surely raise[s] a plausible inference of collusion under Section 1 of the Sherman Act.”2
Alerts
8.03.26
EU AI Act Enforcement Phase Begins
On August 2, 2026, the European Commission (EC), acting through its European AI Office (EU AI Office), became formally entitled to exercise its powers to investigate and enforce the EU AI Act obligations imposed on providers of general-purpose artificial intelligence (GPAI) models, as well as rules on prohibited AI practices. These powers are significant and include requesting information and documentation, obtaining access to models for evaluation, requiring corrective or risk-mitigation measures, and imposing fines of up to the higher of €15 million or 3 percent of the provider’s worldwide annual turnover.
News Articles
8.03.26
Wilson Sonsini Attorneys Named to Lexology Index: Competition 2026
On July 29, 2026, 10 Wilson Sonsini attorneys were named to the Lexology Index: Competition guide for 2026. The guide ranks leading competition lawyers, state aid specialists, and competition economists who advise and represent clients in internal, regulatory, and criminal investigations.
Alerts
7.30.26
DOJ Revives Targeted Second Requests for Merger Review
On July 23, 2026, the Department of Justice (DOJ) Antitrust Division announced a return to “targeted” Second Request investigations and published a revised model timing agreement. The agreement offers an optional “Expedited Consideration” process potentially allowing investigations to be resolved without a full Second Request production. Under the expedited procedures, parties produce a limited set of documents, data, and information relevant to particular issues and concerns raised by the Antitrust Division. If the targeted production is sufficient to resolve the DOJ’s concerns, the investigation may be terminated without full Second Request compliance. In addition, the targeted production may provide a context for potential settlement negotiations. If concerns remain, the DOJ may require further productions, either of the full Second Request specifications or on modified terms.
Alerts
7.29.26
Back-to-Back Executive Orders Shape the U.S. Quantum Agenda: What Founders and Investors Need to Know
On June 22, 2026, the administration issued two Executive Orders: Executive Order 14413, Ushering in the Next Frontier of Quantum Innovation (Quantum Innovation Executive Order) and Executive Order 14412, Securing the Nation Against Advanced Cryptographic Attacks (Post-Quantum Cryptography Executive Order). Together, the Executive Orders reinforce the federal government’s long-term commitment to quantum information science and technology (QIST) while continuing to frame quantum as both an economic and national security priority. Although they impose relatively few immediate legal obligations on most companies, the Executive Orders provide important signals about where federal investment, procurement, and strategic partnerships are likely to emerge over the coming years.
Newsletters
7.29.26
European Antitrust Bimonthly Bulletin – May/June 2026
The firm is pleased to distribute the European Antitrust Bimonthly Bulletin, which distills the major antitrust developments in Europe over the past two months into concise and actionable takeaways. Companies operating in, or transacting with, Europe should take note of this quarter's developments in merger enforcement, digital markets regulation, and AI-related antitrust scrutiny.
Alerts
7.23.26
Health Reimbursement Signals: CMS Proposes Payment Frameworks for “Software as a Medical Service”
On July 2, 2026, the Centers for Medicare and Medicaid Services (CMS) released the calendar year (CY) 2027 Hospital Outpatient Prospective Payment System (OPPS) proposed rule and on July 14, 2026, subsequently released the CY 2027 Physician Fee Schedule (PFS) proposed rule.1 These proposed rules establish a newly named Medicare payment category, Software as a Medical Service (SaMS), for software that supports clinical decision-making through algorithmic analysis.2 This is CMS’ first effort to pay for software-based clinical services in a structural way as their own category rather than as a cost buried inside reimbursement for another procedure. The consequential impact is that CMS would create a new reimbursement vehicle for software and AI-enabled products to be reimbursed as standalone services in the future. The proposal is worth close attention from stakeholders because Medicare reimbursement often determines the success of software or AI products intended for clinical purposes. Comments are due August 31, 2026, on the OPPS rule and September 14, 2026, on the PFS rule.
Alerts
7.17.26
Illinois Enacts AI Safety and Transparency Law for Frontier AI Developers
On July 6, 2026, Illinois Governor JB Pritzker signed into law Senate Bill 315, the Artificial Intelligence Safety Measures Act (AISMA), which will require large AI developers to publicly disclose how they plan to mitigate potentially “catastrophic risks” posed by advanced frontier AI models. In a first for a U.S. state AI law, AISMA also requires covered entities to retain independent auditors to assess their compliance. The Illinois legislature otherwise largely modeled AISMA after California’s Transparency in Frontier Artificial Intelligence Act (TFAIA) (discussed in a prior alert) and New York’s Responsible AI Safety and Education Act (RAISE Act). AISMA’s provisions will become effective in two waves, with most provisions effective January 1, 2027, and AI framework and independent audit provisions effective January 1, 2028.
Alerts
7.14.26
UK Consumer Protection Flies High as CMA Enforces Against Unfair Pricing Practices
Since receiving new powers under the Digital Markets, Competition and Consumers Act 2024 (DMCCA), the UK Competition and Markets Authority (CMA) has pursued an aggressive consumer protection agenda. As previously reported, this began with a series of pricing investigations launched in November 2025, the first of which concluded in April 2026.
Alerts
7.10.26
The FTC After Slaughter: What Businesses Need to Understand
On June 29, 2026, the U.S. Supreme Court issued its opinion in Trump v. Slaughter, where the six-Justice majority held that appointed agency officials who wield executive power are subject to presidential removal. In so holding, the Court overruled its 1935 decision in Humphrey’s Executor v. United States, 295 U.S. 602 (1935), which for nearly a century stood for the principle that Congress can create independent agencies whose leaders can only be removed for cause.