The proposed legislation, General Assembly Raised Bill No. 7072, aims to enhance the enforcement mechanisms and equitable relief options available under the Connecticut Antitrust Act. Key changes include the repeal of existing statutes and their replacement with new provisions effective October 1, 2025. Notably, the bill introduces a new subsection that makes it unlawful for corporations to acquire stock or assets of another corporation if such acquisition may substantially lessen competition or create a monopoly, with specific exceptions for investment purposes and the formation of subsidiary corporations. Additionally, the Superior Court is granted the authority to order divestiture of stock or assets that violate these provisions.

Furthermore, the bill expands the scope of legal actions available to the state or individuals, allowing for equitable relief such as restitution and disgorgement, alongside injunctive relief against violations of the Antitrust Act. The court is instructed to follow principles governing equitable relief, and plaintiffs are entitled to recover reasonable attorney's fees and costs. A new provision also allows the Attorney General to accept assurances of voluntary compliance from alleged violators, which can include restitution amounts, establishing a framework for addressing violations more effectively.

Statutes affected:
Raised Bill: 35-29, 35-34