
John Deere has to face the FTC's right-to-repair lawsuit
John Deere will have to fight the Federal Trade Commission's antitrust lawsuit, which accuses the company of increasing repair costs by making farmers use its network of authorized dealers to fix their equipment, as reported earlier by Reuters. In a ruling on Monday, Illinois US District Court Judge Iain D. Johnston rejected John Deere's attempt to get the case tossed out.
The FTC and several states, including Illinois, Minnesota, Arizona, Michigan, and Wisconsin, sued John Deere in January, claiming the company has spent 'decades' limiting the ability of farmers and independent repair shops to fix their equipment.
The lawsuit brings up the specialized software John Deere uses to repair its equipment, which is only available to authorized dealers, 'forcing farmers to solely rely on more expensive authorized dealers for critical repairs.' The FTC also accuses John Deere of maintaining monopoly power over certain repairs of its equipment.
In his ruling, Judge Johnston rejected John Deere's challenges to the FTC's constitutional structure, along with arguments that the government's monopolization claims are 'insufficient.' Judge Johnston is handling a separate class action lawsuit filed against John Deere by farmers as well, which he alludes to in his decision.
'Sequels so rarely beat their originals that even the acclaimed Steve Martin couldn't do it on three tries. See Cheaper by the Dozen II, Pink Panther II, Father of the Bride II, ' Johnston writes. 'Rebooting its earlier production, Deere sought to defy the odds. To be sure, like nearly all sequels, Deere edited the dialogue and cast some new characters, giving cameos to veteran stars like Humphrey's Executor. But ultimately the plot felt predictable, the script derivative. Deere I received a thumbs-down, and Deere II fares no better.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
37 minutes ago
- Yahoo
China solar industry to address overcapacity challenge but turnaround far off, experts say
By Colleen Howe SHANGHAI (Reuters) -Solar manufacturing company heads in China, grappling with losses and tariffs on exports to the U.S., called for an end to a price war and a solution to overcapacity in the sector, but industry participants predict a slow turnaround. China's solar manufacturers have reported losses this year as U.S. President Donald Trump's trade war put further pressure on demand within the industry. Losses in the photovoltaic manufacturing value chain reached $40 billion last year, while for the industry as a whole - including firms' other business lines - totalled $60 billion, Trina Solar Chairman Gao Jifan said. The Chinese government and industry were working to address the overcapacity and breakneck competition that have pushed most major producers into the red, Gao told the SNEC PV+ Photovoltaic Power Conference and Exhibition in Shanghai this week. The National Development and Reform Commission (NDRC), China's state planner, held an online meeting in February calling for a ban on new production, Gao said, but new capacity has nevertheless been built in recent months. NDRC did not immediately respond to a faxed question on the matter. Zhu Gongshan, chairman of polysilicon and module producer GCL, called for a "clear out" of the sector through mergers and a paring back of production capacity. China was also moving away from reliance on a single market, Zhu said, referring to growth in new markets outside China in response to tariffs and other trade barriers. Chinese manufacturers have been rapidly expanding in the Middle East, and a module-producing firm said demand is set to grow in eastern Europe and South Asia. Solar manufacturing makes up less than two-thirds of Trina's business now and will fall to 50% or less in the next two to three years, Gao said, with a greater focus on product solutions and energy storage. Several experts told Reuters during this week's industry event that there is no hope for recovery in solar component prices this year. One procurement manager at a module producer in eastern China said two or three large factories would have to stop production for supply and demand to rebalance and support prices, unlikely in the near future. "The overcapacity issue is so deep one cannot see to the bottom," another module producer, using a Chinese proverb. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Banca Mediolanum to back Mediobanca bid for Banca Generali on June 16
MILAN (Reuters) -Italian asset manager Banca Mediolanum will vote in favour of merchant bank Mediobanca's bid for private bank Banca Generali on June 16, it said on Wednesday. Banca Mediolanum is one of the biggest shareholders in Mediobanca with a 3.5% stake. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
J.C. Flowers-backed Jefferson Capital eyes $1.1 billion valuation in US IPO
(Reuters) -Private equity-backed Jefferson Capital said on Friday it was targeting a valuation of up to $1.1 billion in its U.S. initial public offering, as buyout firms look to take advantage of an improving new listings market. The company and some of its investors are seeking to raise up to $170 million by offering 10 million shares priced between $15 and $17 each, in what would be a rare flotation from the debt buyer industry. Mounting pressure on financial sponsors to return money to investors is encouraging buyout firms to list their portfolio companies. A winning streak for latest U.S. stock market entrants has also boosted the IPO market, particularly for tariff-insulated companies. Jefferson is offering 625,000 shares in the IPO, while selling stockholders, including J.C. Flowers, are putting up about 9.4 million shares. Founded in 2002, the Minneapolis, Minnesota-based company purchases and manages charged-off and bankruptcy receivables with operations mainly in the U.S., Canada, the UK and Latin America. It expanded into Canada with the acquisition of debt buyer Canaccede Financial Group in 2020. The company had net income of $128.9 million and revenue of $433.3 million in 2024, up 15.6% and 34.1%, respectively, over the year earlier. Jefferson competes against PRA Group, Encore Capital Group, Resurgent Capital Services and Cavalry Portfolio Services in its core U.S. market. Investment firm J.C. Flowers had acquired Jefferson from buyout firm Flexpoint Ford in 2018. Jefferson will list on the Nasdaq under the symbol "JCAP". Jefferies and Keefe, Bruyette & Woods are the lead underwriters for the offering. J.C. Flowers will own about 68.9% of Jefferson after the offering.