(The following press release from the U.S. Justice Department was received
by e-mail and was reformatted. The sender verified the statement.)
FOR IMMEDIATE RELEASE
TUESDAY, JULY 2, 2013
BARRY DILLER TO PAY $480,000 CIVIL PENALTY FOR VIOLATING
ANTITRUST PREMERGER NOTIFICATION REQUIREMENTS
Violations Occurred When Diller Acquired Voting Securities of The Coca Cola
WASHINGTON - Corporate investor Barry Diller will pay a $480,000 civil penalty
to settle charges that he violated premerger reporting and waiting requirements
when he acquired voting securities of The Coca Cola Company, the Department of
Justice announced today.
The Justice Department's Antitrust Division, at the request of the Federal
Trade Commission (FTC), filed a civil antitrust lawsuit today in U.S. District
Court in Washington, D.C., against Diller for violating the notification
requirements of the Hart-Scott-Rodino (HSR) Act of 1976. At the same time, the
department filed a proposed settlement that, if approved by the court, will
settle the charges.
The HSR Act of 1976, an amendment to the Clayton Act, imposes notification and
waiting period requirements on individuals and companies over a certain size
before they consummate acquisitions resulting in holding stock or assets above
a certain value, which at the time of Diller's violations ranged from $63.4
million to $68.2 million and is currently $70.9 million.
Federal courts can assess civil penalties for premerger notification violations
under the HSR Act in lawsuits brought by the Department of Justice. For a
party in violation of the HSR Act the maximum civil penalty is $16,000 a day.
For further details on this matter, contact the FTC's Office of Public Affairs,
IF YOU HAVE QUESTIONS, PLEASE USE THE CONTACTS IN THE MESSAGE OR CALL THE
OFFICE OF PUBLIC AFFAIRS AT 202-514-2007.
TTY (866) 544-5309
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