Toshiba, Canon To Pay $5M For Merger Clearance Violation
Law360 (June 10, 2019, 7:59 PM EDT) -- Canon and Toshiba agreed to pay $2.5 million each to settle U.S. Department of Justice allegations that they skirted their obligation to notify U.S. antitrust enforcers before Canon acquired Toshiba Medical Systems in 2016 for about $6 billion, the DOJ said on Monday.
The DOJ alleges that Canon Inc. and Toshiba Corp. devised a scheme to avoid complying with the Hart-Scott-Rodino Act, which requires companies to report deals of a certain size to the antitrust authorities before they complete the transactions. The agency said Canon and Toshiba purposefully avoided the rules so that Toshiba could recognize the proceeds from the sale...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!