August 26, 2014

HSR: FTC Levies $900k Fine for File Failure Over Incremental Note Conversions

Last week, the FTC fined Berkshire Hathaway in the amount of $896,000 to settle allegations for HSR file failures in connection with acquisitions of USG Corporation shares when it converted notes over time. The FTC alleged that Berkshire Hathaway’s incremental acquisition resulted in the company’s aggregate holdings exceeding the $200 million size-of-transaction threshold – with no exemption for filing available. See related memos posted in our “Antitrust” Practice Area.