Extract to table

If sellers would respond to a take rate increase by shifting volume to DTC channels, social commerce platforms, or other distribution methods, the relevant market must be broadened to include those alternatives

The Section 13(b) hearing is an evidentiary proceeding, and the court must make factual findings based on the record presented

529 (2018), which held that market definition in two-sided platform contexts must account for the interdependent demand on both sides of the platform

To be cognizable under the Merger Guidelines, efficiencies must be likely to be passed through to consumers (and, in this case, to third-party sellers)

The $340 million annual savings figure is substantial, but we must be prepared to defend every element of the projection with detailed documentation, third-party validation, and credible expert analysis

This testimony must be developed in coordination with Whitfield, Greer & Tanaka LLP, who represent Pinnacle and will take the lead on preparing Pinnacle's witnesses