Earlier this summer, the U.S. Department of Justice (the “DOJ”) filed a proposed final judgment against Canon Inc. (“Canon”) and Toshiba Corp. (“Toshiba”), imposing a $2.5 million civil penalty against each party. [1] The DOJ, which filed a complaint based on a referral from the Federal Trade Commission (“FTC”), [2] alleged that the parties strategically structured the sale of a Toshiba subsidiary to Canon to circumvent the filing requirements of the Hart-Scott-Rodino Act (“HSR Act”). [3] The public comment period on the proposed final judgment runs until August 25, 2019. [4] The antitrust authorities of the European Union (“EU”) also imposed a $31.8 million fine on Canon as the acquiring party for avoiding the corresponding EU merger regulation. [5] The European Commission found that the
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The US District Court for the District Court of Columbia imposes a $2.5 million civil penalty against a manufacturer of imaging equipment for violating the pre-merger notification and waiting period requirements of the HSR Act (Canon / Toshiba)
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