Sacane, Scott R., U.S. (for the FTC)

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United States of America v. Scott R. Sacane, United States District Court for the District of Columbia
FTC Matter/File Number:

0410068

Enforcement Type:

Civil Penalty (7a)

Case Summary

The complaint alleged that Scott R. Sacane, a Connecticut hedge fund manager, failed to comply with notification and waiting period requirements before making acquisitions of two companies through an investment fund that he controlled. Sacane eventually held more than 50 percent of the voting securities of Aksys Ltd. and more than $100 million of voting securities of Esperion Therapeutics, Inc., without complying with the HSR Act. Under the terms of a consent decree filed simultaneously with the suit, Sacane agreed to pay a civil penalty of $350,000 to settle the charges.