| FOR IMMEDIATE RELEASE
WEDNESDAY, JUNE 21, 1995
TDD (202) 514-1888
DIVISION'S 1995 JOHN SHERMAN AWARD
WASHINGTON, D.C. Harvard law professor Phillip E. Areeda received the Department of Justice's John Sherman Award today for his dedication to creating a greater understanding of the nation's antitrust laws.
"Phil Areeda has been a steadfast guardian of competition -- competition that has made this nation's marketplace the most robust in the world," said Anne K. Bingaman, Assistant Attorney General for the Antitrust Division. "He has dedicated his life to fostering greater understanding of our nation's antitrust laws, and for that, we owe him a debt of gratitude."
Created in 1994, the John Sherman Award is presented annually by the Department's Antitrust Division to a person who has made substantial contributions to the protection of American consumers and the preservation of economic liberty.
Areeda, a professor of law at Harvard University since 1961, has enjoyed a distinguished career in government and academics. After graduating summa cum laude both from Harvard College with an A.B. in economics in 1951 and Harvard Law School in 1954, Areeda went on to the Air Force, where he served as a Second Lieutenant, working in the Office of the General Counsel. From 1956 to 1961, he was a member of the White House staff, rising to the position of Assistant Special Counsel to President Eisenhower in 1958.
Professor Areeda returned briefly to Washington on two occasions since assuming his position at Harvard. In 1969, he was Executive Director of the President's Cabinet Task Force on Oil Import Control, and from 1974 to 1975, he was a counsel to President Ford.
The award is named for the author of the Sherman Act of 1890. Sherman, a former Congressman and Senator, also served as Secretary of the Treasury from 1877 to 1881, and as Secretary of State from 1897 to 1898. The first recipient of The John Sherman Award was U.S. Senator Howard M. Metzenbaum of Ohio, in 1994.
The Sherman Act outlaws all contracts, combinations and conspiracies that unreasonably restrain interstate trade, including agreements among competitors to fix prices, rig bids and allocate customers. The Act also makes it a crime to monopolize any part of interstate commerce.