The US DoJ imposes a $11 million fine for merger notification violation on an investment company (ValueAct)

Yesterday, the Antitrust Division of the Department of Justice (“DOJ”) announced that it has settled its lawsuit against ValueAct Capital Management L.P. (“ValueAct”) for violating the Hart- Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”). The settlement is noteworthy for two principal reasons: (i) the size of the civil penalty ($11 million); and (ii) the scope of the injunctive relief, which may signal an increasingly restrictive approach to the availability of the “investment-only” HSR exemption for certain investment firms. The HSR Act requires pre-notification of acquisitions of voting securities, assets, or

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Authors

  • Covington & Burling (Washington)
  • Covington & Burling (Washington)
  • Covington & Burling (Washington)
  • Covington & Burling (Washington)
  • Covington & Burling (Washington)
  • Covington & Burling (Washington)

Quotation

Thomas O. Barnett, Deborah A. Garza, John D. Graubert, James R. Dean, James J. O'Connell, Ross A. Demain, The US DoJ imposes a $11 million fine for merger notification violation on an investment company (ValueAct), 12 July 2016, e-Competitions July 2016, Art. N° 95674

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