FTC Fines CEO $1.4 Million For Failure To File Under HSR Act After Purchasing Company Stock
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The Federal Trade Commission ("FTC") yesterday fined John C. Malone, CEO and Chairman of Discovery Holding Company ("Discovery"), $1.4 million to settle allegations that he violated the Hart-Scott-Rodino Antitrust Improvements Act (the "HSR Act") in connection with acquisitions of Discovery shares in 2005 and 2008.