United States of America: Filed FTC request for a temporary restraining order and preliminary injunction against Intercontinental Exchange's acquisition of Black Knight

On 10 April 2023, the Federal Trade Commission (FTC) filed a request for a temporary restraining order (TRO) and preliminary injunction (PI) to prevent the merger while the agency's administrative challenge is ongoing. Both ICE and Black Knight have agreed to the TRO, which would delay the merger until a United States District Court decides on the FTC's preliminary injunction request or sets a later date for the merger. The FTC's administrative complaint argues that the merger of these mortgage technology providers would result in higher costs, reduced innovation, and limited options for lenders using mortgage-related tools. This legal action has been initiated in the US District Court for the Northern District of California.