Last Updated
Case Status
Pending
United States of America, Plaintiff v. Clarence L. Werner c/o Werner Enterprises, Inc., Defendant
FTC Matter/File Number
211 0004
Civil Action Number
1:21-cv-03332
Federal Court
District of Columbia
Case Summary
Clarence L. Werner, founder of the Omaha, Nebraska-based truckload carrier Werner Enterprises, Inc. will pay a $486,900 civil penalty to settle charges that certain of his acquisitions of company stock while he was a director of the company violated the Hart-Scott-Rodino Act. The HSR Act requires companies and individuals to report stock purchases over a certain threshold to the FTC and DOJ and wait before closing the transaction so that the federal agencies can investigate the potential competitive impact of the acquisition. Smaller transactions may also be reportable under the Act due to the need to aggregate the new purchase with all current holdings.