FTC Brings "Attempt to Collude" Case Based on Analyst Call

Last week, the Federal Trade Commission announced a consent decree settling charges that statements made by Valassis Communications during an earnings conference call amounted to an unlawful invitation to collude. During the call, Valassis announced its intention to maintain - but not grow - its current market share, defend its existing client base, submit bids on expiring competitor contracts at prices above current levels, honor prices quoted in existing bids for a limited time, and then to monitor its competitor's response to these initiatives.