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Fining the CEO for not filing the correct paperwork when acquiring large amounts of company stock doesn't really seem like it should block a merger.
by colechristensen 1y ago
Fining the CEO for not filing the correct paperwork when acquiring large amounts of company stock doesn't really seem like it should block a merger.
- josefritzishere 1y ago[flagged]
- colechristensen 1y ago>The complaint alleges that Fairbank failed to report his sizable stock windfall to federal antitrust authorities and illegally finalized the acquisition before the agencies could investigate. He got $20M worth of shares of Capital One stock which is overall worth $76B, so yeah, I'm quite dismissive of the crime of not following antitrust regulations for a transaction involving 0.03% of company value. The authorities were never going to have anything to say about these transactions, they're just mad they didn't get the opportunity to choose to not do anything. Sure, fine him, but this is like a parking ticket.