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Caledonia Investments Coughs Up $480,000 for HSR Act Violation
The Justice Department’s Antitrust Division has brought a civil antitrust lawsuit against Caledonia Investments plc for violating the premerger notification and waiting period requirements of the Hart-Scott-Rodino (HSR) Act of 1976. The company acquired voting securities of Bristow Group Inc. in February 2014 without meeting the required notification and waiting period thresholds.
The Hart-Scott-Rodino Act imposes notification and waiting period requirements for transactions meeting certain size thresholds so that they can undergo premerger antitrust review. Federal courts can assess civil penalties for premerger notification violations under the HSR Act in lawsuits brought by the department. The maximum civil penalty for an HSR violation increased from $16,000 per day to $40,000 per day effective August 1.
Caledonia Investments has agreed to pay a $480,000 civil penalty to resolve the lawsuit, according to a proposed settlement filed with the court. The proposed settlement is subject to approval by the U.S. District Court in Washington, D.C.
The case highlights the importance of complying with antitrust laws and regulations. Failure to do so can result in significant financial penalties, as seen in this case. The Justice Department will continue to vigorously enforce antitrust laws to protect consumers and promote fair competition.
The Federal Trade Commission (FTC) has also issued a press release regarding this matter, which can be found online. Further details about the case are described in the attached complaint and competitive impact statement.
Citizens are encouraged to submit written comments concerning the proposed settlement during a 60-day comment period to Daniel P. Ducore, Assistant Director for Compliance, Bureau of Competition, c/o Federal Trade Commission, 600 Pennsylvania Avenue, NW, CC-8416, Washington, D.C. 20580. E-mailed comments should be sent to: DDucore@ftc.gov.
Key Facts
- State: Washington
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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