DOJ Fines Legends Hospitality $3.5M for Illegal Pre-Merger Coordination


The Department of Justice Antitrust Division has announced a settlement with Legends Hospitality Parent Holdings LLC for violating the Hart-Scott-Rodino Antitrust Improvements Act. Legends will pay a $3.5 million civil penalty and implement enhanced antitrust compliance measures as part of the settlement.
 
The department alleged that Legends engaged in illegal premerger coordination with ASM Global Inc. during the HSR waiting period for their proposed merger. Specifically, Legends exercised operational control over aspects of ASM’s business related to venue management services. Under the terms of the settlement, Legends is prohibited from engaging in similar conduct in the future and must appoint an antitrust compliance officer. The company will also undergo antitrust training for its employees.
 
Read merger-related commentary from MoginRubin:

·       As Feds Stalk Anticompetitive Mergers, What Can Competitors Do? by Dan Mogin

·       Why the Capital One-Discover Merger Makes Sense by Jonathan Rubin

·       FTC Files Administrative Complaint to Stop $8.5 Billion Tapestry-Capri Fashion Accessory Merger by Jonathan Rubin

·       Battery Merger Shows Shortcomings in Antitrust Policy, Critics Say  by Tim LaComb

·       Kroger-Albertsons Merger Faces Additional Headwinds by Tim LaComb

·       FTC Raises Threshold for HSR Merger Reporting by a Record $10.4 Million by Tim LaComb

 

 

Sign up to view this Whitepaper