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 in Sections 35-29 and 35-34, which are replaced with new provisions effective October 1, 2025. Notably, the bill introduces new language that makes it unlawful for corporations to acquire stock or assets in a manner that may substantially lessen competition or create a monopoly, while also allowing for exceptions for investment purposes. Additionally, the Superior Court is granted the authority to order corporations to divest assets that violate these provisions.

Furthermore, the bill expands the scope of legal actions that can be taken against violations of the Antitrust Act, allowing the state or individuals to seek equitable relief, including restitution and disgorgement, as well as injunctive relief. The language specifies that the court will follow principles governing equitable relief, and if granted, plaintiffs are entitled to reasonable attorney's fees and costs. A new section also empowers 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