The U.S. DOJ prosecutes obstruction of justice by a South Korean executive in merger investigation (Hyosung Corporation)

A plea agreement entered into last week with the U.S. Department of Justice Antitrust Division (DOJ) provides a sobering reminder of the serious consequence of obstruction of justice, and highlights the fact that such obstruction issues can arise even in connection with seemingly routine merger investigations if key documents intentionally are altered before being submitted to the government. On May 3, 2012, an executive of a South Korean company agreed to plead guilty and to serve five months in U.S. prison for altering documents in connection with a proposed merger—first in documents submitted to the U.S. antitrust agencies as part of a required premerger Hart-Scott-Rodino filing, and later in documents submitted to the DOJ after the agency had opened a formal merger investigation.

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Authors

  • Jones Day (Washington DC)
  • Jones Day (Washington DC)
  • Jones Day (Washington DC)
  • Jones Day (Washington DC)

Quotation

Kathryn M. Fenton, Bevin M.B. Newman, Tom D. Smith, Ryan C. Thomas, The U.S. DOJ prosecutes obstruction of justice by a South Korean executive in merger investigation (Hyosung Corporation), 3 May 2012, e-Competitions Bulletin May 2012, Art. N° 50039

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