Legends ordered to pay $3.5M, hire compliance officer over pre-merger activity
By 
Adrianne Appel2024-08-07T17:42:00
A hospitality company agreed to pay $3.5 million and appoint an anti-trust compliance officer to settle allegations by the Department of Justice (DOJ) that it engaged in illegal pre-merger activity.
Legends Hospitality Parent Holdings, the brainchild of Dallas Cowboys owner Jerry Jones and the late owner of the New York Yankees George Steinbrenner, announced in November the acquisition of ASM Global, a venue management and services company.
Legends took control of some aspects of ASM operations and became involved with venue management for a California arena before a required legal waiting period, a violation of the Hart-Scott-Rodino Act, the DOJ alleged. HSRA prohibits companies from improperly combining operations or other aspects of their businesses before expiration of the waiting period, the DOJ said in a press release Monday.
Related articles
-
Premium‘Tick-box’ training leads to tragic outcome in Costa Coffee allergen case
Company training has always been equal parts important and annoying. But a recent inquest found some eLearning courses fail to warn companies when employees struggle through education and testing. For 13-year-old Hannah Jacobs, the consequences ended with her death.
-
News BriefSEC fines Esmark, CEO combined $600K over false offer to U.S. Steel Corp.
A privately held family company and its CEO, who announced a $10 billion bid to buy U.S. Steel without having the cash on hand, will pay $600,000 in penalties to the Securities and Exchange Commission for making materially false statements.
-
PremiumKanter says DOJ adapting antitrust enforcement for AI
The Department of Justice’s Antitrust Division is examining how its policies and enforcement mechanisms are suited to handle potential issues brought about by the proliferation of use of artificial intelligence.
More from Regulatory Enforcement
-
News BriefCFPB ends probe into Meta’s financial advertising practices
Meta says it is no longer under investigation by the U.S. Consumer Financial Protection Bureau (CFPB), the latest instance of the agency scaling back enforcement under President Donald Trump.
-
News BriefTexas sues Johnson & Johnson, Kenvue over alleged misleading marketing of Tylenol
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
-
News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”