The US DoJ requires disgorgement for gun-jumping violations in an abandoned transaction (Flakeboard America / SierraPine)

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On November 7, 2014, the U.S. Department of Justice, Antitrust Division (“DOJ”) announced that it had entered into a settlement with Flakeboard and SierraPine resolving allegations that the two parties had engaged in illegal premerger coordination in connection with their now-abandoned transaction [1]. Flakeboard and SierraPine both operate in the forest products industry, which has long experienced heightened scrutiny from antitrust regulators. The settlement requires (1) the companies to pay a $3.8 million civil penalty for violating the Hart-Scott-Rodino (“HSR”) Act by coordinating the closing of a SierraPine manufacturing facility before the HSR Act waiting period had ended, and (2) Flakeboard to disgorge the $1.15 million in profits it obtained from acquiring the customers of the

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Auteur

  • Kirkland & Ellis (New York)

Citation

Ian G. John, The US DoJ requires disgorgement for gun-jumping violations in an abandoned transaction (Flakeboard America / SierraPine), 7 novembre 2014, e-Competitions November 2014, Art. N° 73789

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