California Antitrust Bill Targeting Corporate Power Clears Key Legislative Hurdle

MT Newswires Live
Aug 14

A California bill that would broaden the state's antitrust enforcement powers advanced in the legislature Thursday, despite opposition from business groups and some government officials, Bloomberg reported Thursday.

The state Senate Appropriations Committee sent AB 1776 to the full chamber, where it must pass before reaching Democratic Governor Gavin Newsom. The measure would make it easier for the state attorney general to pursue monopolization cases against companies including Apple, Alphabet and Nvidia, Bloomberg said.

The bill would expand the Cartwright Act to cover anticompetitive conduct by individual companies, rather than only conduct involving two or more companies. The latest version limits enforcement to public prosecutions, removing an earlier provision that would have allowed private lawsuits, according to Bloomberg.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10