B238154
9710115
UNITED STATES OF AMERICA
BEFORE FEDERAL TRADE COMMISSION
In the Matter of
LANDAMERICA FINANCIAL GROUP, INC., a corporation.
Docket No. C-3808
COMPLAINT
Pursuant to the provisions of the Federal Trade Commission Act and of
the Clayton Act, and by virtue of the authority vested in it by said
Acts, the Federal Trade Commission ("Commission"), having reason to
believe that respondent LandAmerica Financial Group, Inc., formerly
known as Lawyers Title Corporation ("LTC"), a corporation subject to
the jurisdiction of the Commission, directly and through one of its
subsidiaries, has entered into an agreement for the acquisition of
certain assets that constitutes a violation of Section 5 of the
Federal Trade Commission Act, as amended (15 U.S.C. § 45); and that
such acquisition, if consummated, would constitute a violation of
Section 7 of the Clayton Act, as amended (15 U.S.C. § 18) and Section
5 of the Federal Trade Commission Act; and it appearing to the
Commission that a proceeding by it in respect thereof would be in the
public interest, hereby issues its complaint, pursuant to Section 11
of the Clayton Act (15 U.S.C. § 21) and Section 5(b) of the Federal
Trade Commission Act, (15 U.S.C. § 45(b)), stating its charges as
follows:
I. DEFINITIONS
1. For the purposes of this complaint, the following definitions
apply:
a. "Respondent" or "LTC" means LandAmerica Financial Group, Inc.,
formerly known as Lawyers Title Corporation, its directors,
officers, employees, agents, representatives, predecessors,
successors, and assigns; its subsidiaries, divisions, groups and
affiliates controlled by LandAmerica Financial Group, Inc., and
the respective directors, officers, employees, agents,
representatives, successors, and assigns of each.
b. "Reliance Group" means Reliance Group Holdings, Inc., its
directors, officers, employees, agents, representatives,
predecessors, successors, and assigns; its subsidiaries,
divisions, groups and affiliates controlled by Reliance Group
Holdings, Inc., and the respective directors, officers, employees,
SNIPPETS:
BEFORE FEDERAL TRADE COMMISSION
LANDAMERICA FINANCIAL GROUP, INC., a corporation.
Pursuant to the provisions of the Federal Trade Commission Act and of the Clayton Act, and by
lation of Section 5 of the Federal Trade Commission Act, as amended; and that such acquisition, if
ws:
For the purposes of this complaint,
"Respondent" or "LTC" means LandAmerica Financial Group, Inc., formerly known as Lawyers
"Reliance Group" means Reliance Group Holdings, Inc., its directors, officers, employees,
"Title plant services" means providing selected information contained in a title plant to a
LTC is a corporation organized, existing and doing business under and by virtue of the laws
LTC is the sole owner of Lawyers Title Insurance Corporation.
LTC is, and at all times relevant herein has been, a corporation whose business is in or
Purchase Agreement pursuant to which LTC agreed to purchase the title insurance operations of
Brevard County, Florida
Oakland County, Michigan
There are no commercially reasonable substitutes for title plant services in the relevant
The effect of the Acquisition may be substantially to lessen competition and to tend to
by increasing the likelihood that LTC will unilaterally exercise market power in the relevant
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