Still Vigilant After All These Years

July 1, 2009Still Vigilant After All These Years:FTC Fines John Malone $1.4 Millionfor HSR Act ViolationsIf you have any questions regard-ing the matters discussed in thismemorandum, please contact the Introductionfollowing attorneys or call yourregular Skadden contact. otwithstanding the economic downturn and a marked decrease in thenumber of notifications filed pursuant to the Hart-Scott-RodinoNAntitrust Improvements Act of 1976, as amended (HSR Act orNeal R. Stoll1HSR) , more than 500 notifications have been filed since October 1, 2008.New YorkEach notification continues to be carefully reviewed by the FTC’s Premerger212.735.3660neal.stoll@skadden.com Notification Office (PNO) staff, both for compliance with the HSR Act’srequirements and for any indications of past or ongoing violations of the HSRJoseph P. Nisa Act’s prenotification and waiting period requirements.New York212.735.3394 Where such violations are not deemed intentional or are based on simple mis-joseph.nisa@skadden.com takes or misinterpretations of the HSR Act and its rules and the acquiror fully2complies with the FTC’s corrective filing protocol, civil penalties are generallyBrian C. Mohrnot assessed. However, where the violation is considered willful, or the acquirorWashington, D.C.(and/or its counsel) is sophisticated and experienced and “should have known”202.371.7774brian.mohr@skadden.com that a filing needed to be made or subsequently failed to observe the requisiteFTC ...