Biglari Holdings, Inc. to pay US$850,000 to settle claim of HSR Act violation based on stock acquisitions not qualifying for passive investor exemption

Biglari Holdings, Inc. (Biglari Holdings) agreed  to pay a US$850,000 civil penalty to settle charges that it violated the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with its 2011 acquisition of voting shares of Cracker Barrel Old Country Store, Inc. (Cracker Barrel). The Department of Justice (DOJ) charged Biglari Holdings with accumulating approximately nine percent of the voting securities of Cracker Barrel without satisfying the notification and waiting period requirements of the HSR Act.

Read: "Biglari Holdings, Inc. to pay US$850,000 to settle claim of HSR Act violation based on stock acquisitions not qualifying for passive investor exemption"


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