For decades, Section 8 of the Clayton Act–which prohibits two competing corporations from sharing a common director–was rarely enforced by the U.S. antitrust agencies, and corporations were for the most part left to regulate themselves. In this episode, Alicia Downey and Sergei Zaslavsky talk to antitrust practitioner Diane Hazel about how the U.S. Department of Justice and the Federal Trade Commission have recently been focusing a lot more attention on identifying Section 8 violations based on an expansive view of the scope of the statute. Listen to this episode to learn about recent enforcement trends and what companies can do to avoid potentially unlawful interlocking directorates.
Diane Hazel, Foley & Lardner LLP
Benjamin R. Dryden, Diane Hazel & Richard L. Flannery, An Analysis of the “Deputization” Theory of Section 8 of the Clayton Act, Antitrust Source (August 31, 2023)
Diane Hazel, Richard L. Flannery & Benjamin R. Dryden, How To Assess Interlocking Directorates In Antitrust Ramp-Up, Law 360 (October 25, 2022)
ABA Antitrust Law Section, Interlocking Directorates Handbook (2011)
Alicia Downey, Downey Law LLC and Sergei Zaslavsky, O’Melveny & Myers LLP