The Department of Justice Thursday announced Qualcomm Inc. and a subsidiary must pay nearly $2 million to settle federal allegations that company officials started influencing business decisions of a company they were acquiring before receiving antitrust approval for the merger.
San Diego-based Qualcomm and its wholly owned subsidiary, Flarion Technologies Inc. of Bedminster, N.J., agreed to pay $1.8 million for a violation of the Hart-Scott-Rodino Act of 1976 known as “gun-jumping.” An acquiring company must file notification documents under the HSR Act and wait for 30 days or until federal authorities review and approve a merger before coordinating the business of the target company. Learning about business contracts and other business strategies could affect long-term competition if regulators do not approve a deal.
