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FTC Secures $12 Million in Penalties for Pre-Merger Reporting Act Violations
United States v. Edwards LifeSciences Corp. and Genesis MedTech Group Ltd
The Federal Trade Commission secured $12 million in penalties to settle charges alleging that Edwards Lifesciences Corp. acquired medical device maker JC Medical from Genesis MedTech Group Limited without complying with the notification and waiting period requirements of the Hart-Scott-Rodino Act (HSR).
Under the terms of a proposed final judgment Edwards, including former Genesis subsidiary JC Medical, will pay a $10 million penalty. Genesis will pay a $2 million penalty. Edwards will also be subject to additional terms including prior notice requirements. The combined $12 million penalty is the largest ever for failing to make an HSR filing.
FTC and DOJ Issue Fiscal Year 2025 Hart-Scott-Rodino Annual Report
Federal Trade Commission and Department of Justice Seek Public Comment on the Premerger Notification and Report Form
Granting of Requests for Early Termination of the Waiting Period Under the Premerger Notification Rules
Granting of Requests for Early Termination of the Waiting Period Under the Premerger Notification Rules
XCL Resources Holdings, LLC et al, USA v.
The Federal Trade Commission announced that crude oil producers XCL Resources Holdings, LLC (XCL), Verdun Oil Company II LLC (Verdun), and EP Energy LLC (EP) will pay a record $5.6 million civil penalty to settle allegations they engaged in illegal pre-merger coordination, known as gun jumping, in violation of the Hart-Scott-Rodino Act (HSR Act).