Hart-Scott-Rodino Act: Berkshire Hathaway Inc. Agrees to Pay Civil Penalty of $896,000 to Resolve FTC Allegations That it Violated the Reporting Requirements of the HSR Act

Sullivan & Cromwell LLP - August 21, 2014
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Berkshire Hathaway Inc. has agreed to pay a civil penalty of $896,000 concerning its conversion of notes into voting securities of USG Corporation in December 2013, which was more than five years after Berkshire’s HSR Act filing to acquire an initial USG stock position and thus past the expiration date of the original HSR. In addition, Berkshire previously had made a corrective filing in July 2013 concerning the acquisition of voting securities of a different issuer and was, therefore, treated as a repeat offender by the Federal Trade Commission.