A PYMNTS Company

US: Nearly 1M unreported Coca-Cola shares lands man $480k settlement fine

By  |  July 3, 2013

After purchasing nearly one million shares of Coca-Cola without reporting the buy to regulators, Barry Diller settled with authorities with a $480,000 payment. The settlement followed a complaint issued to the US Federal Trade Commission concerning the unreported buyout; US antitrust law requires notification to both the FTC and the Department of Justice over stock buyouts of such magnitude, as well as a waiting period to determine the effects of competition the buyout would have on the market. According to reports, Diller’s stock acquisitions began in 2010. Diller is the co-creator of the Fox Broadcasting Company and the chairman of IAC/InterActiveCorp.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.