Warren Buffett's Berkshire Hathaway is paying almost $1 million to the U.S. government for allegedly violating the filing requirements of an antitrust law for a second time.
The Federal Trade Commission said the $896,000 civil penalty settles allegations in a Justice Department lawsuit that Berkshire violated the notice and waiting requirements of the Hart-Scott-Rodino antitrust law by not disclosing its plan to increase its stake in USG before the transaction closed late last year.
It's the highest penalty that could be imposed in the case. Under the law, the penalty is capped at $16,000 for each day of the violation. The goverment said Berkshire's violation covered the 56 days between its acquisition of the USG stock and the end of the legally-mandated waiting period.