A PYMNTS Company

US: DOJ trial against Bazaarvoice begins

 |  September 23, 2013

The US Department of Justice’s lawsuit against social media utilization company Bazaarvoice is set for trial Monday in regulators’ efforts to block the company’s acquisition of competing firm PowerRevenues.

The merger, made for $168.2 million, provoked the DOJ’s scrutiny when, according to the watchdog, emails were discovered in June 2013 allegedly proving the motivation for the merger was to fix online product rating prices.

Since the allegations were made public, Bazaarvoice has taken harsh hits in the stock market.

Bazaarvoice CEO Stephen Collins maintains that the allegations are false. In a statement, he said that the deal “was a win for all our clients and for the marketplace.”

The trial is set to begin in Northern California. The DOJ first filed the lawsuit last January.

Full Content: Austin Business Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.