Richard D. Fairbank, U.S. v.

Last Updated:
Case Status:
Pending
United States of America, Plaintiff v. Richard D. Fairbank, Defendant
FTC Matter/File Number:

2010065

Civil Action Number:

1:21-cv-02325

Enforcement Type:

Civil Penalty (7a)

Federal Court:
District of Columbia

Case Summary

Richard Fairbank, CEO of Capital One Financial Corp., has agreed to settle Federal Trade Commission charges that his March 8, 2018, acquisition of Capital One Financial (COF) stock violated the Hart-Scott-Rodino Act. Under a negotiated settlement, Fairbank will pay a $637,950 civil penalty. The complaint alleges that in 2018,  Fairbank violated the notice and waiting period requirements of the HSR Act because he did not file before acquiring COF voting securities in excess of the $100 million filing threshold, as adjusted (which at the time was $168.8 million).