DOJ Focus on Officer and Director Interlocks

Sullivan & Cromwell LLP - May 10, 2019

The Assistant Attorney General in charge of the U.S. Department of Justice’s Antitrust Division has indicated that the DOJ is considering the potential application of Section 8 of the Clayton Act—which in general prohibits the same person from serving as an officer or director of different corporations that are competitors—to corporate structures other than corporations, such as LLCs. In light of the DOJ’s expression of interest in the topic, clients may consider proactively reviewing potential interlocks regardless of the corporate form of the entities that compete with one another.