Antitrust Alert: DOJ Fines Parties to Abandoned Purchase Agreement for “Gun Jumping”

Summary: The Department of Justice has reached a $4.95 million settlement with companies it had sued for engaging in anticompetitive preclosing activities in violation of the Sherman and Hart-Scott-Rodino Acts. The DOJ’s lawsuit and subsequent settlement highlight the need for companies contemplating a merger or purchase agreement to continue to act as separate entities until after the legally required waiting period has ended.