May 15, 1911 – The United States Supreme Court laid down a major decision against corporate giant Standard Oil. The court found that Standard Oil, which owned 90% of the oil industry, violated the Sherman Antitrust Act, which aims to promote competition and prevent monopolization in order to ensure fair business practices. As a result, Standard Oil was forced to break up into 34 separate entities, some of which are still in existence to this day. #todayinlegalhistory #supremecourt #standardoil #