April 06, 2015
Weil partner Eric Hochstadt has been named a “Rising Star” by Law360 for Competition in recognition of impressive victories over the past year on behalf of clients such as Thomas H. Lee Partners, American Airlines, and MasterCard. Most recently, Mr. Hochstadt secured two decades of injunctive relief against one of the three major performance rights organization, SESAC (Society of European Stage Authors and Composers), for using its monopoly power over copyrighted works to obtain inflated fees from local TV stations. Mr. Hochstadt explained that such long-term relief was “remarkable” in a private litigation given the Department of Justice’s typical policy of seeking consent decrees lasting 10 years or less in these types of cases.
Mr. Hochstadt also helped secure the dismissal of Thomas H. Lee from an antitrust class action accusing more than a dozen private equity firms and investment banks of conspiring to suppress the prices of companies they were considering to acquire in leveraged buyout transactions. Mr. Hochstadt noted that a major challenge in the multi-defendant case was to get individual scrutiny from the court, but that by moving for reconsideration, and being the only defendant to do so, they were “able to get the court to look at the evidence and say…there was no evidence THL participated in any conspiracy.”
Mr. Hochstadt also noted the growing opportunities for young lawyers in the antitrust field, and recommended that they actively engage with the bar to build relationships with more seasoned practitioners.