Antitrust and Trade Regulation Commons^™

Public, Private, Acquired, Alexander I. Platt, Matthew T. Wansley

Articles

For the last quarter-century, IPOs have been declining. SEC officials usually attribute the decline to startups’ choices to stay private. But that explanation is incomplete. As startups grow, they face a three-way choice between going public, staying private, and being acquired, and they have increasingly chosen the third option. In this Essay, we show how securities regulation pushes startups towards acquisitions by increasing the cost of raising capital and accessing liquidity in both public and private markets. We consider how the trend towards acquisitions could reduce competition, innovation, opportunities for diversification, and transparency. And we offer suggestions for how the …

The Shifting Economics Of Influencer Sponsorship Disclosures, Uri Y. Hacohen

Cardozo Arts & Entertainment Law Journal

Conventional wisdom holds that disclosing influencer sponsorship diminishes advertising's effectiveness by triggering consumer skepticism. Responding to this perceived transparency gap, regulators have adopted mandatory disclosure regimes to address a perceived market failure: the divergence between private commercial incentives and the public interest in transparency. This Article challenges that assumption. Drawing on a large-scale social media experiment (N=600), it demonstrates that disclosures not only increase consumers' recognition of advertising but also improve their attitudes toward both influencers and brands, while significantly boosting their willingness to share promotional content. These empirical results are further supported by a comprehensive synthesis of the emerging …

Seeing Is Believing? Deepfakes In Financial Markets, Hadar Y. Jabotinsky, Michal Lavi

Cardozo Arts & Entertainment Law Journal

An AI-powered tool recently mimicked Warren Buffett's image and voice so convincingly that even his own family could have been deceived. This striking example highlights the transformative potential of voice cloning and deepfakes. This innovative technology leverages artificial intelligence (AI) to create hyper-realistic audio and video content. By blurring the boundaries between authenticity and synthetic creation, deepfakes make it possible to fabricate moments that never occurred. Recent advancements in AI and user-friendly software have made deepfakes more accessible andfurther contributed to the proliferation of deepfakes, enabling even individuals with minimal technical skills to produce compelling deepfakes at little to no …

Did The Dodgers Ruin Baseball? Why Mlb’S Antitrust Exemption Stands In The Way Of A More Competitive League, Jack Ross

Cardozo Arts & Entertainment Law Journal (AELJ) Blog

After the Los Angeles Dodgers’ series win over the Milwaukee Brewers in the National League Championship Series, Dodgers manager, Dave Roberts, remembered that, “[b]efore the season started, they said, ‘The Dodgers are ruining baseball … Let’s get four more wins and really ruin baseball. Let’s go!’” Because of this win, Roberts and the Dodgers made good on their promise by going on to win their second straight World Series. No, the Dodgers did not ruin baseball, but their dominance is representative of the growing disparity in competition between large and small-market teams.

Cardozo’S Sports Law Society And Antitrust Society Host House Settlement Lecture And Panel, Bradley Rosen

Cardozo Arts & Entertainment Law Journal (AELJ) Blog

Panelists for the event: Professor Marc Edelman, Bob Boland (Partner, Shumaker LLP), Michael Hsu (Co-founder, College Basketball Players Association), Adam Dale (Partner, Winston & Strawn LLP), Neha Vyas (Associate, Winston & Strawn LLP), Paul McDonald (Managing Partner, PL McDonald Law LLC), and Chris Brolley (Associate, Troutman Pepper Locke LLP).

On Wednesday, November 12, 2025, Cardozo’s Sports Law Society and Antitrust Society hosted a lecture and panel discussion regarding the implications of the House v. NCAA lawsuit and settlement. This included the potential for future antitrust liability as a result of the settlement, Title IX implications, the employment status of college …

The House Always Wins, Cardozo Sports Law Society (Csls), Cardozo Antitrust Society, Marc Edelman, Bob Boland, Paul Mcdonald, Chris Brolley, Michael Hsu, Neha Vyas, Adam Dale

2025–2026 Flyers

Mini Lecture: Professor Marc Edelman

No Exit, Brian J. Broughman, Matthew Wansley, Samuel N. Weinstein

Articles

Fast-growing startups in search of capital and liquidity have traditionally sought to exit the private capital market through M&A or IPO. Until recently, antitrust enforcers rarely challenged startup acquisitions. But under the Biden administration, enforcers worried about the growing dominance of Big Tech sued to block more startup deals. Since antitrust restricts M&A but not IPOs, one might expect that greater antitrust enforcement would cause startups to substitute one kind of exit for another, leading to more IPOs. That did not happen. While M&A and IPOs both provide liquidity, they are not perfect substitutes. We model heterogeneity in M&A and …

Antitrust’S Consumer Tradeoffs, Samuel N. Weinstein

Articles

In modern antitrust law, courts are required to ask only one question: did the challenged action harm consumers? This Article asks a different question: which consumers? Over the last few decades, the Supreme Court has increasingly required antitrust plaintiffs to prove not only that they were harmed, but also that their harm outweighed any other consumers’ gains. The doctrine forces courts to pit groups of consumers against each other. In Amex, it was merchants against credit card holders. In Brooke Group, it was consumers buying a product during predation against consumers buying it during recoupment. In cases involving aftermarkets for …

Antitrust Fireside Chat, Heyman Center On Corporate Governance, Samuel Weinstein, Omeed Assefi, Kevin Hart

2025–2026 Flyers

No abstract provided.

Antitrust Fireside Chat, Heyman Center On Corporate Governance, Samuel N. Weinstein, Omeed Assefi, Kevin Hart

2025 Event Invitations

Please join our fireside chat featuring Deputy Assistant Attorney General Omeed Assefi, Professor Samuel Weinstein, and Kevin Hart, Partner at Jones Day. The discussion will focus on the latest developments in antitrust enforcement policy at the U.S. Department of Justice. A networking reception with refreshments will follow the main program.

Enforcing International Humanitarian Law Through The Business Responsibility To Respect Human Rights, Tara Van Ho

Cardozo International & Comparative Law Review

Insulation produced by the Danish company Rockwool or its Russian subsidiary lines thirty-one Russian Navy warships. Though not a weapon, this material is essential to the vessels' operation. Did Rockwool have a responsibility under international law to stop the transfer of the insulation to the Russian Navy before Russia's 2022 invasion of Ukraine? This article examines the business responsibilities under the 2011 United Nations Guiding Principles on Business and Human Rights ("UNGPs'). In doing so, the article finds that the business responsibility to respect human rights in the UNGPs provides a strong mechanism for enforcing international humanitarian law ("IHL'). However, …

Duped: The Implications Of The Proliferaiton Of Superfake Luxury Goods And What Consumers May Not Have Considered, Riann Colbert

Cardozo Arts & Entertainment Law Journal

The proliferation of "Superfake" luxury goods, which are high-quality counterfeit items nearly indistinguishable from authentic products, poses significant challenges to trademark law, consumer protection, and the broader economy. These items, often sold through e-commerce platforms, not only undermine legitimate businesses but also expose consumers to health risks, support organized crime, and perpetuate environmental harm. The note advocates for enhanced legal frameworks and consumer education to mitigate these issues.

Three-Stripe Life: How Adidas Can Act As A Model In Trademark Disputes By Promoting Internal Alternative Dispute Resolutions, Adam Gaudet

Cardozo Journal of Conflict Resolution

This Note will propose that large brands with broad trademarks develop internal strategies and departments which facilitate preemptive mediation and negotiations with smaller designers, ultimately deescalating disputes before any formal legal issues arise. These negotiations and mediations could lead to brand collaborations and new business ventures, could persuade smaller brands to stop their intellectual property infringement, and, in the least ideal situation, lead to a lawsuit. The strategies outlined in this Note, while focused on Adidas, can be applied by other fashion companies as well, as large brands often own many broad trademarks that small businesses might accidentally use. Businesses …

How To Beat The Nfl’S Best Defense: Attacking The Mass Arbitration Phenomenon With Class Arbitration, Thomas Riley

Cardozo Journal of Conflict Resolution

During his seventeen-year tenure as Commissioner of the National Football League (NFL), Roger Goodell never testified at trial. However, that changed when a class of plaintiffs sued the NFL for antitrust violations, alleging the League artificially inflated the cost of its viewership package—NFL Sunday Ticket—and thereby harmed consumers. NFL Sunday Ticket is described as a “premium sports package” that allows fans to watch out-of-market games they otherwise would not be able to view in their current market. This David and Goliath moment was a chance to discipline the pricing of one of the most popular television products in the United …

"The Gift Of A Golden Voice": Shaping The Right Of Publicity To Protect Performers From A.I. Abuses, Sebastian Saavedra

Cardozo Arts & Entertainment Law Journal

The note explores the evolving nature of the right of publicity, a unique area of intellectual property and privacy law that protects individuals' control over their likeness and persona. It examines the challenges posed by emerging technologies, particularly AI-generated content, and advocates for a balanced approach that integrates elements from trademark and copyright law while respecting First Amendment rights. The analysis emphasizes the need to protect performers' rights to their public image without undermining established legal frameworks.

Can Commercials Be Art? An Analysis Of Intellectual Property Preawareness In The Barbie Era, Shreya Kalidindi

Cardozo Arts & Entertainment Law Journal

The note examines the evolution of advertising, particularly native advertising, and critiques the inadequacy of current regulatory frameworks in addressing its deceptive potential. It highlights how modern advertising practices, such as product placement in films like Barbie, blur the line between commercial speech and artistic expression, challenging the Federal Trade Commission’s (FTC) ability to protect consumers. The analysis argues that strengthening existing regulations is insufficient and advocates for empowering consumers to make informed decisions, as the legal system struggles to keep pace with innovative advertising strategies.

The Federal Maritime Commission’S New Framework For Ocean Carrier Accountability: Analysis Of The Mcs Industries And Oj Commerce Decisions, Heewan Noh, Jie Shi

Cardozo Law Review de•novo

This article examines two 2024 Federal Maritime Commission (FMC or “Commission”) cases that significantly impact the interpretation of ocean carrier accountability under the Shipping Act of 1984: MCS Industries, Inc. v. COSCO Shipping Lines Co. Ltd. and OJ Commerce, LLC v. Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft A/S & Co. KG. This article argues that the FMC, whose mission is to “[e]nsure a competitive and reliable international ocean transportation supply system that supports the U.S. economy and protects the public from unfair and deceptive practices,” continues to make ongoing efforts to clarify and enforce protecting shippers’ rights. These efforts focus particularly on (i) …

The Score Act Is Unconstitutional: Private Nondelegation Problems With Congress’S Latest Attempt To Regulate College Sports, Sam C. Ehrlich, Ryan M. Rodenberg

Cardozo Law Review de•novo

The Student Compensation and Opportunity through Rights and Endorsements Act (“SCORE Act”) is Congress’s most ambitious effort yet to bring stability to college sports, codifying the recent House settlement while granting sweeping regulatory power to private athletic associations such as the National Collegiate Athletic Association (“NCAA”) and the College Sports Commission (“CSC”). However, by delegating policymaking authority to these private, self-interested entities without any sort of public oversight, the bill raises serious constitutional concerns under the private nondelegation doctrine. Drawing on parallels to a string of litigation involving the Horseracing Integrity and Safety Act (“HISA”) and recent Supreme Court signals, …

Antitrust Compliance For The Modern Age, Heyman Center On Corporate Governance, Manish Kumar, Samuel N. Weinstein, Jillian Charles, Deirde Mcevoy-Cappock, Sean Farrell, Jeffrey Martino

2024–2025 Flyers

Please join us for essential insights into the latest developments in compliance guidelines, best practices for corporate compliance programs, and effective litigation in the context of compliance issues.

A Wrong In Search Of A Duty: Public Nuisance, Social Media And The Youth Mental Health Crisis, Charles Bachmann

Cardozo Journal of Equal Rights & Social Justice

The note argues that social media companies should be held accountable for their role in the youth mental health crisis through the legal framework of public nuisance law. Drawing parallels to successful cases against tobacco and opioid companies, the author contends that social media platforms, by prioritizing profits over user well-being, contribute to widespread harm such as anxiety, depression, and suicide among youth. While acknowledging concerns about judicial overreach and the challenges of proving causation, the note advocates for judicial intervention as a necessary corrective in the absence of effective legislative action.

All For One, One For None: Arrington V. Burger King Worldwide And The Single-Entity Defense For Franchises, Tyler Nappo

Cardozo Law Review

Section 1 of the Sherman Antitrust Act (Sherman § 1) proclaims contracts, combinations, or conspiracies in restraint of trade or commerce to be illegal. Thus, for an agreement to fall within Sherman § 1’s boundaries, there must be a joining together of separate actors or entities. However, for over a century since the Sherman Act’s enactment, courts have struggled to draw the line between separate business entities and single entities. This distinction became more defined with the Supreme Court’s holding in Copperweld Corp. v. Independence Tube Corp. that parent companies are incapable of conspiring with wholly owned subsidiaries. But Copperweld …

Downstreaming, Rachel Landy

Articles

Spotify and its competitors all offer the same product at the same price. Why? Scholars have argued that relationships can be designed in a way that naturally promotes innovation. By “braiding” certain formal contracting practices with informal enforcement norms, parties develop a frame-work that supports trust and positive, long-term collaboration. This Article takes on this consensus and shows that not all braiding is good. Using the multibillion-dollar subscription music streaming business as an illustration, it demonstrates just how industry forces can, and do, overcome braiding’s positive slant. In that industry, the major record labels (Universal, Warner, and Sony) weaponize braiding …

A Career At The Federal Trade Commission, Cardozo Antitrust Society

2023–2024 Flyers

No abstract provided.

Jack Daniel's And The Unfulfilled Promise Of Trademark Use, Stacey Dogan, Jessica Silbey

Cardozo Arts & Entertainment Law Journal

The article examines the Supreme Court's decision in Jack Daniel's v. VIP Products and its implications for the use of trademarks in artistic and expressive works. The Court's ruling established a "trademark use" doctrine, distinguishing between uses of trademarks as a designation of source for goods and non-trademark, expressive uses. While the decision does not overturn the Rogers v. Grimaldi test, it creates uncertainty in applying Rogers to expressive works, leading to inconsistent lower court decisions and threatening First Amendment protections for creative uses of trademarks.

Keynote Address: Adjudicating Art, Amy Adler

Cardozo Arts & Entertainment Law Journal

The keynote address critiques the Supreme Court's decision in Andy Warhol Foundation v. Goldsmith for its flawed approach to interpreting the meaning of art in copyright law, particularly in the context of fair use. It argues that courts are ill-equipped to determine the meaning of art, as art often resists reduction to discrete messages or meanings. The Court's reliance on visual analysis and its failure to provide clear guidance on how to assess meaning exacerbate these problems, leading to confusion in lower courts and potentially stifling artistic expression.

Always A Suspect: Law Enforcement's Violative Use Of Geofence Warrants And Geolocation Data In Criminal Investigations And Proceedings, Aaron A. Bengart

Cardozo International & Comparative Law Review

The note argues that geofence warrants, used by law enforcement to obtain location data from tech companies, pose significant Fourth Amendment concerns. It advocates for U.S. legislation similar to the U.K.'s to balance privacy rights with law enforcement needs, emphasizing the need for checks to prevent abuse and protect citizens from unreasonable searches.

(In)Dependence Day: Why The Modern Streaming Industry Requires Modern Antitrust Enforcement, Samuel Kahn

Cardozo Arts & Entertainment Law Journal

The note argues that the contemporary streaming industry, dominated by a few major platforms, mirrors the pre-Paramount era's anticompetitive practices, necessitating a reexamination of antitrust laws to address oligopolistic structures, protect independent creators, and ensure consumer access to diverse content. It contends that the repeal of the Paramount Decrees and the failure of current antitrust frameworks to adapt to the streaming industry's unique challenges have allowed media giants to grow unchecked, stifling competition and innovation.

Deceptive By Nature: A Model For Regulating Native And Embedded Advertising In The Contexts Of Children's Audiences, Zach Cihlar

Cardozo Arts & Entertainment Law Journal

The note advocates for enhanced regulatory measures to protect children from deceptive native and embedded advertising in digital media. It emphasizes the need for the Federal Trade Commission (FTC) to expand its regulatory framework to classify such advertising as deceptive, leveraging existing laws like the Federal Trade Commission Act (FTCA) and the Children's Online Privacy Protection Act (COPPA). The proposed model suggests a combination of stricter regulations, parental involvement through technology, and strengthened self-regulatory mechanisms to address the challenges posed by modern advertising formats.

Introductory Remarks, Carly Rothstein

Cardozo Arts & Entertainment Law Journal

This introductory remark explores the implications of recent Supreme Court decisions in Bad Spaniels and Andy Warhol on intellectual property law, focusing on the evolving landscape of copyright and trademark protections. It highlights the challenges and opportunities these rulings present for balancing artistic expression, cultural norms, and legal frameworks. The symposium serves as a platform for scholars and practitioners to discuss these developments and their broader impact on IP law and policy.

Panel 2: Trademark Law, Stacey Dogan, Christine Haight Farley, Jessica Silbey, Rebecca Tushnet, Felix Wu

Cardozo Arts & Entertainment Law Journal

No abstract provided.