Perelman Firm Strikes Deal In FTC's Filing Violation Case

Law360, Los Angeles (June 21, 2013, 7:07 PM EDT) -- Billionaire Ronald Perelman's investment firm has agreed to pay $720,000 to settle allegations it violated the Federal Trade Commission's disclosure requirements by failing to properly disclose its purchase of a large number of shares in a lottery ticket company, the agency announced Thursday.

The FTC alleged MacAndrews & Forbes waited too long to disclose its 2012 purchase of 800,000 shares of Scientific Games Corp., in violation of the Hart-Scott-Rodino Act, which requires that parties notify the FTC and U.S. Department of Justice of most large acquisitions....
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