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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