Waiting Periods

News & Analysis as of

Illegal Premerger Coordination Leads to DOJ “Gun Jumping” Enforcement Action and $5 Million Settlement—Key Lessons Affecting...

On November 7, 2014, the Antitrust Division of the U.S. Department of Justice (“DOJ”) reached a $5 million settlement with Flakeboard America Limited (“Flakeboard”), its foreign parents, and SierraPine to settle allegations...more

U.S. v. Flakeboard and SierraPine: HSR “Gun-Jumping” Results in $5 Million Penalty

On November 7, 2014, the U.S. Department of Justice (DOJ) filed a complaint and consent decree in the U.S. District Court for the Northern District of California requiring Flakeboard America Limited, Flakeboard’s parent...more

Antitrust-Related Recent Developments: DOJ settles gun-jumping case, FTC issues fines for failure to submit HSR filing and FTC...

DOJ fines particleboard manufacturers $4.95 million for gun-jumping violations - On Friday, November 7, 2014, two companies agreed to pay $4.95 million to settle U.S. Department of Justice (DOJ) allegations that the...more

Investor Claims NetTALK Executives Took Control of Board

On November 5, Telestrata, LLC brought a derivative shareholder action and direct action against NetTALK.com, Inc., a publicly traded telecommunication company, and NetTALK’s directors and officers, alleging that the...more

"DOJ Antitrust Action Condemns Pre-Merger Coordination Requiring Target Company to Sell Factory"

On November 7, 2014, the United States Department of Justice, Antitrust Division (DOJ) announced a $5 million agreement to settle charges that Flakeboard and SierraPine had engaged in unlawful pre-merger coordination. The...more

Engineered Wood Manufacturers to Pay $3.8 Million in Fines and Disgorge $1.15 Million in Profits for Hart-Scott-Rodino Gun-Jumping...

In the first Hart-Scott-Rodino (HSR) gun-jumping enforcement action in five years, the Antitrust Division of the U.S. Department of Justice (DOJ) recently announced a settlement with Flakeboard America Limited and SierraPine...more

Five Million Dollar Penalty is Stark Reminder About "Gun Jumping"

On November 7, 2014, the Antitrust Division of the Department of Justice ("DOJ") announced that it had imposed a civil penalty of $3.8M and disgorgement of $1.15M in profits on Flakeboard America Limited (and its parent...more

DOJ Antitrust Division Announces Settlement with Two Companies for Federal Antitrust Law Violations

On November 7, the Antitrust Division of the Department of Justice announced a settlement with Flakeboard America Ltd. (Flakeboard) and SierraPine for federal antitrust law violations. The settlement requires the companies to...more

Gone, Gone, the Damage Done*—Provisions in Transactional Agreements Can Raise Antitrust Risk

Soon after someone settles “gun jumping” charges, client alerts and blog posts with informative titles like “DOJ Settlement Resolves ‘Gun Jumping’ Charges” start flying around. These “alerts” and “posts” usually recite facts...more

New Guidance on Gun Jumping - DOJ Antitrust Division Settlement Clarifies the Risks of Pre-Closing Coordination, while...

Just five weeks after the Antitrust Division of the U.S. Department of Justice announced that Flakeboard America had abandoned its plan to acquire a medium-density fiberboard (MDF) mill and two particleboard mills from...more

“Gun-Jumping” Companies Must Pay $3.8 Million in Fines and Disgorge $1.15 Million in Illegally Obtained Profits

Recently the Antitrust Division of the U.S. Department of Justice (DOJ) reached a $5 million settlement with Flakeboard America Limited, its parents and SierraPine to settle allegations that the parties engaged in...more

Transaction Parties Pay Hefty Antitrust Fines for Unlawful Premerger Coordination

On November 7, 2014, Flakeboard America Limited (Flakeboard), its parent companies, and SierraPine entered into a settlement with the Department of Justice (DOJ) resolving allegations that the parties engaged in illegal...more

DOJ Settles with Flakeboard and SierraPine for Gun-Jumping Action

On November 7, 2014, the Department of Justice Antitrust Division (“DOJ”) announced it had settled an enforcement action for improper premerger coordination (commonly referred to as “gun-jumping”) with Flakeboard America...more

DOJ Imposes $4.95 Million Fine for Pre-Closing U.S. Antitrust Violations

Pre-closing violations in United States v. Flakeboard & SierraPine provide a reminder of practical rules for handling pre-closing activities without hitting antitrust landmines....more

Texas Adopts Intrastate Crowdfunding Exemption

On October 22, 2014, the Texas State Securities Board (the "TSSB") voted to formally adopt its proposed Rule 139.25, which provides an exemption from registration for intrastate securities offerings employing a limited...more

Proposed Reforms to Liver Transplant System Address Disparity, Raise Ethical Questions

Each year over 1,500 individuals in the United States die while waiting for a liver transplantation. Another 1,500 candidates are removed from waiting lists because they are deemed too medically frail to receive a liver. Some...more

California Repeals 60-Day Limit on Waiting Periods

On August 15, 2014, California passed Senate Bill 1034, which repealed an insurance law (Assembly Bill 1083) that prohibited insurance companies from including waiting periods in excess of 60 days in their group health...more

Employee Benefits Developments - August 2014

The Departments of the Treasury, Labor, and Health and Human Services issued final regulations addressing the rule in the Affordable Care Act (ACA) that prohibits a group health plan from having a waiting period that exceeds...more

California Legislative Update: August 2014

AB 2074 amends Section 1194.2 of the California Labor Code to allow an employee who alleges minimum wage violations to file suit for liquidated damages any time before the expiration of the statute of limitation on the...more

Resistance WAS Futile—California Conforms to ACA Waiting Period Requirement

After wandering in the wilderness for a year, California has now come in from the cold and conformed its requirements for eligibility waiting periods to the federal standard adopted in the Affordable Care Act (ACA). Effective...more

The Final Regulations Clarify The Application Of Orientation Periods To The Affordable Care Act's 90-Day Waiting Period Rule

Earlier this year, proposed regulations pertaining to the 90-day waiting period provision of the Affordable Care Act (ACA) introduced the concept that employers may require new employees to complete a one-month “orientation...more

Monthly Benefits Update

In Burwell v. Hobby Lobby, the Supreme Court held that regulations under the Affordable Care Act that require employer group health plans to provide contraceptive coverage violate the Religious Freedom Restoration Act (RFRA)....more

New Guidance on Employment-Based Orientation Periods

As employers who sponsor group health plans well know, health care reform prevents plans from imposing waiting periods in excess of 90 days for employees who are otherwise eligible to enroll in a plan. The latest guidance...more

Final Regulations on Orientation Periods Released

On June 20, the Federal regulatory agencies in charge of health care reform guidance (the Departments of Labor, Treasury, and Health and Human Services) released final regulations (“Final Regulations”) clarifying the...more

Introductory Periods Must Be Reconsidered in Light of Insurance Waiting Time Rules

Most employers have an “introductory” or “probationary” period for new full-time employees. This period is usually defined as a set period of time following the date of hire, usually 90 days in length, during which a new...more

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