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Research Center : Development

Dec 28,2011 | Hogan & Lovells

CEO Fined $500,000 for HSR Act Violation Upon Acquisition of Stock-Based Compensation

A public company CEO recently consented to a federal district court order requiring him to pay a $500,000 civil penalty for violating the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). The Antitrust Division of the Department of Justice (DOJ) charged the executive for failing to satisfy the notification and waiting period requirements of the HSR Act before acquiring common stock under his company's stock-based compensation programs.

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