Leucadia National Corporation Fined $240,000 for Antitrust Crimes

The Justice Department’s Antitrust Division has taken down Leucadia National Corporation in a sweeping antitrust crackdown, slapping the company with a $240,000 civil penalty for violating the premerger notification and waiting period requirements of the Hart-Scott-Rodino (HSR) Act of 1976.

According to documents, Leucadia acquired voting securities of KCG Holdings Inc. in July 2013 without filing the required premerger notification with the Federal Trade Commission. This brazen move allowed the company to avoid scrutiny under the HSR Act, which aims to detect and prevent anticompetitive mergers and acquisitions.

The HSR Act, an amendment to the Clayton Act, has been a cornerstone of antitrust enforcement since 1976. Its notification and waiting period requirements are designed to weed out deals that could stifle competition and harm consumers.

Leucadia’s actions, however, demonstrate a blatant disregard for the law. The company’s failure to file the necessary paperwork and wait for approval before acquiring KCG Holdings Inc. has earned it a hefty fine.

The maximum civil penalty for violating the HSR Act is $16,000 per day, but in this case, Leucadia has agreed to pay a $240,000 civil penalty to resolve the lawsuit.

The Justice Department’s action sends a clear message to corporate America: failure to comply with antitrust laws will not be tolerated.

The Federal Trade Commission and the Justice Department have been cracking down on antitrust violators in recent years, and this latest development is a significant victory for consumers and taxpayers.

Leucadia National Corporation’s actions have consequences, and this fine is a testament to the power of antitrust enforcement.

The case against Leucadia highlights the importance of transparency and accountability in corporate dealings.

The Justice Department’s Antitrust Division will continue to vigilantly enforce the HSR Act and protect consumers from anticompetitive practices.

Ultimately, this case serves as a reminder that corporate America must play by the rules and respect the law.

For more information on this case, please refer to the Federal Trade Commission’s press release and the attached complaint and stipulation.