leucadia national corp (LUK) Key Developments
Leucadia National to Pay $240,000 Fine for Violating Antitrust Premerger Report
Sep 22 15
The Justice Department's Antitrust Division, at the request of the Federal Trade Commission, filed a civil antitrust lawsuit in U.S. District Court in Washington, D.C., against Leucadia National Corp. for violating the premerger notification and waiting period requirements of the Hart-Scott-Rodino (HSR) Act of 1976 when it acquired voting securities of KCG Holdings Inc. in July 2013. At the same time, the department filed a proposed settlement, subject to approval by the court, under which Leucadia has agreed to pay a $240,000 civil penalty to resolve the lawsuit. The HSR Act of 1976, an amendment to the Clayton Act, imposes notification and waiting period requirements for transactions meeting certain size thresholds so that they can undergo premerger antitrust review. 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 per day. In July 2013, Knight Capital consolidated with another financial services company, GETCO Holding Company, LLC to become KCG Holdings Inc. That transaction converted Leucadia's ownership interest in Knight Capital into nearly 16.5 million voting shares of the new entity, KCG Holdings, worth approximately $173 million. The FTC charged that Leucadia was required by law to report the transaction to U.S. antitrust authorities. Under the Hart-Scott-Rodino Act, parties must notify the FTC and the Department of Justice of large transactions above certain dollar thresholds that affect commerce in the United States and otherwise meet the statutory filing requirements.
Leucadia National Corporation Appoints John Dalton as Controller and Chief Accounting Officer, Effective on or Before September 15, 2015
Aug 19 15
On August 14, 2015, John Dalton accepted the position of Controller and Chief Accounting Officer of Leucadia National Corporation with a start date on or before September 15, 2015. Mr. Dalton, age 33, was most recently the Assistant Controller and Director, Consolidations and Financial Reporting of TEGNA Inc./Gannett Co. Inc. Since 2004, Mr. Dalton has held other accounting and audit positions at TEGNA/Gannett. Mr. Dalton graduated from James Madison University, where he obtained a Bachelor of Business Administration and is a licensed CPA.
Leucadia National Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 5 15
Leucadia National Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net revenues of $2,839,463,000 compared to $2,851,963,000 a year ago. Loss from continuing operations before income taxes and income related to associated companies was $29,344,000 compared to income from continuing operations before income taxes and income related to associated companies of $82,574,000 a year ago. Income from continuing operations was $15,034,000 or $0.04 per diluted share compared to $70,190,000 or $0.18 per diluted share a year ago. Net income attributable to the company common shareholders was $16,406,000 or $0.04 per diluted share compared to $65,074,000 or $0.17 per diluted share a year ago. Adjusted net income attributable to the company common shareholders, which excludes the operating results of Jefferies' Bache business, was $42.3 million, or $0.11 per diluted share.
For the six months, the company reported net revenues of $6,024,146,000 compared to $5,794,487,000 a year ago. Income from continuing operations before income taxes and income related to associated companies was $517,312,000 compared to $219,634,000 a year ago. Income from continuing operations was $389,463,000 or $1.04 per diluted share compared to $171,036,000 or $0.45 per diluted share a year ago. Net income attributable to the company common shareholders was $397,165,000 or $1.04 per diluted share compared to $159,390,000 or $0.42 per diluted share a year ago. Adjusted net income attributable to the company common shareholders, which excludes the operating results of Jefferies' Bache business, was $430.1 million, or $1.12 per diluted share.
Leucadia National Seeks Acquisitions
Aug 5 15
Leucadia National Corporation (NYSE:LUK) will continue to look at acquisitions.
Leucadia National Corporation Announces Quarterly Cash Dividend, Payable on September 25, 2015
Jul 30 15
Leucadia National Corporation announced that the board of directors has declared a quarterly cash dividend equal to $0.0625 per company common share payable on September 25, 2015 to record holders of company common shares on September 14, 2015.