Extract to table

Second, if the FTC satisfies the likelihood-of-success prong, the court must weigh the equities to determine whether injunctive relief would be in the public interest

The Supreme Court has cautioned that the relevant market must "correspond to the commercial realities of the industry" and must include all products or services that are "reasonably interchangeable

If the hypothetical monopolist could not profitably impose such a price increase because sufficient customers (or, in this context, sellers) would divert their purchases to substitutes outside the proposed market, the proposed market is too narrow and must be expanded to include those substitutes

The Court held that for platforms that facilitate "simultaneous transactions" between two groups of participants, the relevant market must encompass both sides of the platform, and competitive effects must be assessed by considering the impact on both groups

Circuit has made clear, market concentration statistics create only a rebuttable presumption, and courts must look beyond the numbers to the actual competitive dynamics of the market