The US DoJ continues its aggressive crackdown on illegal interlocking directorates thereby increasing the spotlight on private equity and technology firms and leading to the resignation of five more US company board directors

KEYWORDS
Reference

US DoJ, Justice Department’s Ongoing Section 8 Enforcement Prevents More Potentially Illegal Interlocking Directorates, Press release, 9 March 2023

The Antitrust Division of the US Department of Justice ("DOJ") continues to aggressively pursue alleged illegal interlocking directorates that violate Section 8 of the Clayton Act, and in particular, interlocks involving private equity ("PE") firms and technology companies. [1] On March 9, 2023, DOJ announced that five more directors resigned from four US public company boards, and one PE firm declined to exercise its board appointment rights, in response to DOJ inquiries. [2] Three of the four alleged interlocks came from the PE space and two were also associated with technology-related companies. This news arrives on the heels of the DOJ's October 19, 2022, announcement, where the DOJ

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.