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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.
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Violating Antitrust Premerger Notification Requirements
MacAndrews & Forbes Holdings Inc. paid a $720,000 civil penalty to settle charges that the company violated premerger reporting and waiting requirements when it acquired voting securities of Scientific Games Corporation. The Department of Justice (DOJ), at the request of the Federal Trade Commission (FTC), filed a civil antitrust lawsuit against MacAndrews & Forbes for violating the notification requirements of the Hart-Scott-Rodino (HSR) Act of 1976 (a/k/a Section 7A of the Clayton Act). The government alleged that MacAndrews & Forbes failed to comply with the antitrust premerger notification requirements of the HSR Act before acquiring voting securities of Scientific Games in June 2012. Based on a previous acquisition in February 2007, MacAndrews & Forbes could acquire voting securities of Scientific Games for five years without making a new HSR filing – until February 9, 2012. However, MacAndrews & Forbes failed to make a new filing prior to its June 4 and 5, 2012, acquisitions of 800,000 shares of Scientific Games, which occurred after the five year grace period had expired.
- Misconduct Type
- Antitrust
- Enforcement Agency
- Multiple Agencies
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Final Judgment
- 6/20/2013