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Flakeboard and SierraPine Pay Civil Penalties and Disgorgement of Profits to Settle DOJ’s Charges of Unlawful Gun Jumping

Michele S. Harrington

Michele S. Harrington,

Northern Virginia

Leigh Oliver

18 November 2014
The antitrust agencies remain vigilant in prohibiting "gun jumping" — the unlawful coordination of parties to a transaction during the pre-HSR clearance and pre-closing time periods. On 7 November 2014, the U.S. Department of Justice (DOJ) announced a settlement under which parties to an abandoned transaction agreed to pay a total of nearly US$5 million in fines — US$3.8 million in civil penalties to settle claims of unlawful gun-jumping under the HSR Act and an additional US$1.15 million from the purchaser in disgorgement of illegally obtained profits in violation of Section One of the Sherman Act. The parties also agreed to implement antitrust compliance programs and not to share certain information or reach certain agreements during pre-closing periods with other parties to acquisition agreements in which they may become involved.
Michele S. Harrington

Michele S. Harrington,

Northern Virginia

Leigh Oliver

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