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What the DOJ’s targeting of boardroom overlaps means for US directors
02 December 2022 00:00
Seven company board members from five companies in the US have recently been ousted by the US Department of Justice. The directors’ dramatic defenestration is linked to the DOJ’s decision to breathe new life into Section 8 of the Clayton Act, which prohibits interlocking directorates among competitors. The logic behind the law is that shared board members can lead to a dampening of competition or even to the illegal exchange of information among rivals. The DOJ’s decision to reawaken the dormant 1914 provision will prompt some particularly serious soul-searching among directors appointed by private equity firms.
02 November 2022 19:55 by Michael ActonThe US Department of Justice’s antitrust division is shaking up the world of corporate governance.
James Panichi Senior Editor, Asia Pacific
James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more
Michael Acton Senior Correspondent
Michael is a senior correspondent for MLex in San Francisco, where he moved in 2020 after working in our Brussels bureau. Before joining MLex, he reported on EU politics as the Financial Times’ Nico Colchester Fellow in Brussels. Michael has a degree in International Relations and Politics from the University of Cambridge, and a degree in History and French from University College London and Paris IV Sorbonne.