We expect 2025 to be another active year for antitrust class actions. Beyond the holdover cases from 2024 (or earlier), class action plaintiffs have filed many new cases in the first several months of 2025. Some of those cases also press novel antitrust theories consistent with what we saw in 2024. For example, in February 2025, a putative class of California convenience stores brought Robinson-Patman Act (RPA) claims against PepsiCo, Inc., alleging discriminatory pricing on snack food items. The lawsuit follows a newly revived government interested in enforcing the RPA and may raise challenging questions about class certification because plaintiffs must show individualized harm for each member of the putative class. In early March 2025, classes of resident pharmacists sued the American Society of Health-Systems Pharmacists and leading hospital systems that offer pharmacy residencies, alleging that the long-standing system used to match pharmacy school graduates with residencies violates the antitrust laws.
The change in administration will also undoubtedly impact federal antitrust enforcement, which in turn is likely to impact class action litigation trends because the two operate cyclically. Where there is a government-led antitrust enforcement action, there is almost surely an accompanying private case, most often styled as a class action. In recent years, we have seen that trend work in the opposite direction as well, where the class action plaintiffs’ bar is leading the charge in a particular area, and the government enforcers follow on with their own case.
The second Trump administration has not outlined clear antitrust enforcement goals, and the statements so far from the administration have been generic commitments to continue vigorous enforcement with a focus on tech-related issues. The only new and notable area that the second Trump administration identified for potential enforcement relates to potential “collusion or unlawful coordination on DEI metrics” in labor markets. See FTC Memorandum, Directive Regarding Labor Markets Task Force. Enforcement actions targeted at this type of conduct could lead to a swath of class actions consistent with what happened when the first criminal enforcement actions were brought in relation to the naked no-poach and wage-fixing agreements during the first Trump administration. Should the second Trump administration ultimately prove to be laxer on antitrust enforcement than the Biden administration, companies should not assume their antitrust litigation risk is substantially lessened. During times of less aggressive federal enforcement, we have historically observed an uptick in both private class actions and state-led antitrust enforcement efforts.
Companies should pay close attention to the resolution of pending antitrust cases, particularly those with claims related to the exchange of information and/or the use of algorithms. Additionally, we expect the antitrust goals of the second Trump administration to be clearer once the relevant nominees are fully confirmed and installed into their respective agencies. That process should be complete by mid-2025 at the latest. Tracking those goals will also identify where companies should be focused in terms of potential antitrust liability, both from federal enforcement actions and class action litigation.