Cravath’s Amicus Brief Supports Successful Dismissal of FTC Claims Against Welsh Carson
May 17, 2024
On May 13, 2024, the U.S. District Court for the Southern District of Texas dismissed claims brought by the Federal Trade Commission (“FTC”) against private equity firm Welsh Carson relating to U.S. Anesthesia Partners’ (“USAP”) acquisition of anesthesiology practices in Texas, and other allegedly anticompetitive conduct. In a novel approach, the FTC had named both USAP and Welsh Carson, a minority investor, as defendants in the case. On behalf of Cravath client American Investment Council, Cravath submitted an amicus brief in support of Welsh Carson’s motion to dismiss.
Cravath’s brief in support of Welsh Carson provided important background on the positive impact of the private equity industry on the United States and Texas economies; explained the FTC’s recent enforcement efforts concerning the private equity industry and situated the complaint in the development of those efforts; and argued that there would be harmful consequences if the claims against Welsh Carson were permitted to move forward.
The Cravath team included partners Benjamin Gruenstein and Noah Joshua Phillips. Cristina Urquidi also worked on this matter.
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J.D., 1999, Harvard Law Schoolmagna cum laude
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A.B., 1996, Harvard CollegePhi Beta Kappa, summa cum laude
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J.D., 2005, Stanford Law SchoolWinner, 2005 Marion Rice Kirkwood Moot Court
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A.B., 2000, Dartmouth CollegePhi Beta Kappa, magna cum laude
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