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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Violation of Premerger Reporting and Waiting Requirements

Berkshire Hathaway paid an $896,000 civil penalty to settle Federal Trade Commission (FTC) charges that it violated premerger reporting and waiting requirements when it acquired voting securities of USG Corporation in December 2013. According to the FTC, Berkshire Hathaway changed convertible notes it owned in USG into 21.4 million voting securities on December 9, 2013. As a result of the conversion, the value of its USG holdings exceeded $283.6 million, the premerger reporting threshold under the law at the time. The company subsequently made a corrective filing, and acknowledged that the transaction should have been reported under the Hart-Scott-Rodino Act.

Misconduct Type
Antitrust
Enforcement Agency
Justice
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
8/20/2014
Contractors Involved Penalty
Total
Berkshire Hathaway $896,000
Further Information Released
Complaint 8/20/2014
FTC Press Release 8/20/2014
Proposed Final Judgment 8/20/2014

Federal Contractor Misconduct Database