Source: United States Department of Justice News
The Justice Department’s Antitrust Division, at the request of the Federal Trade Commission (FTC), filed a civil antitrust lawsuit today in U.S. District Court for the District of Columbia, against Richard D. Fairbank, the CEO of Capital One Financial Corporation, for violating the pre-transaction notification and waiting period requirements of the Hart-Scott-Rodino Act of 1976 (HSR Act) when he acquired voting securities of Capital One in 2018. At the same time, the department filed a proposed settlement, subject to approval by the court, under which Fairbank has agreed to pay a $637,950 civil penalty to resolve the lawsuit.