C&M Obtains Total Offset of Treble Damages
Client Alert | 1 min read | 02.21.14
In U.S. ex rel. Purcell v. MWI Corp. (D.D.C. Feb. 10, 2014), which C&M defended, the district court zeroed out a $22.5 million treble damages jury award against the defendant, finding that the $108 million in payments to the government by the third-party borrower of the loans at issue were offsetting compensatory payments. The court rejected the government's alternative arguments that no offset be applied or that any offset be limited to the jury's $7.5 million single damages award as without any legal support and contrary to the fact that the government had already been "made completely whole" and "gotten what it paid for" by the payments already received, concluding that only penalties were appropriate.
Insights
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About one year ago, the European Court of Justice (CJEU) ruled in its landmark Illumina/Grail judgment that the European Commission could not accept merger referrals from national competition authorities under Article 22 of the EU Merger Regulation (EUMR) unless those authorities had jurisdiction to review the transaction themselves (see our previous alert).
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