- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-03-09T21:13:00
Five more corporate board members resigned after being flagged by the Department of Justice (DOJ) for potentially violating the antitrust provisions of the Clayton Act.
A total of 13 board members have now resigned, including those announced Thursday by the DOJ in a press release.
Companies have been on notice since an April 2022 speech by Assistant Attorney General Jonathan Kanter warning the DOJ intended to step up its enforcement of Section 8 of the Clayton Act, which prohibits directors and officers from sitting on boards of competing businesses.
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Two directors on the board at media giant Warner Bros. Discovery resigned after the Department of Justice raised antitrust concerns regarding their similar positions on the board of Charter Communications.
Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission it failed to disclose a pre-initial public offering stock deal that netted a member of its board millions of dollars.
The Federal Trade Commission announced the withdrawal of two antitrust policy statements the agency deemed “outdated.” The move puts the FTC in line with the Department of Justice, which announced a similar action earlier this year.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
