Antitrust Procedures and Penalties Act

Antitrust Procedures and Penalties Act - Revises the procedures relating to the entry by the United States in U.S. District Courts of proposals for consent judgements for antitrust violations.

States that simultaneously with the filing of any such proposal, unless otherwise instructed by the court, the United States shall file with the district court, publish in the Federal Register, and thereafter furnish to any person upon request, a competitive impact statement which shall recite: (1) the nature and purpose of the proceeding; (2) a description of the practices or events giving rise to the alleged violation of the antitrust laws; (3) an explanation of the proposal for a consent judgement, including an explanation of any unusual circumstances giving rise to such proposal or any provisions contained therein, relief to be obtained thereby, and the anticipated effects on competition of such relief; (4) the remedies available to potential private plaintiffs damaged by the alleged violation in the event that such proposal for the consent judgement is entered in such proceeding; (5) a description of the procedures available for modification of such proposal; and (6) a description and evaluation of alternatives to such proposal actually considered by the United States.

Stipulates that before entering any consent judgement proposed by the United States, the court shall determine that the entry of such judgement is in the public interest.

Provides for an increase in penalties for violation of the Sherman Antitrust Act of up to $500,000 for corporations and $100,000 for individuals.

States that in cases of general public importance, as certified by the Attorney General, it shall be the duty of the judge designated to hear the case to assign the case for early hearing and to cause the case to be in every way expedited.

Provides that appeals from a final judgement entered in any action shall lie directly to the Supreme Court if the Attorney General files in the district court a certificate stating that immediate consideration of the appeal by the Supreme Court is of general public importance in the administration of justice. Directs the Supreme Court to either: (1) dispose of the appeal and any cross appeal in the same manner as any other direct appeal authorized by law, or (2) deny the direct appeal and remit the case to the appropriate court of appeals, which shall then have jurisdiction to hear and determine such case as if the appeal and any cross appeal in such case had been docketed in the court of appeals in the first instance.