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ARTICLE · 26 AUGUST 2011

August Antitrust Bulletin - 8/23/2011

McGuireWoods LLP
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On August 15, 2011, Nautilus Hyosung Holdings Inc., a Delaware corporation, agreed to plead guilty to two felony charges for submitting false documents to the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) in connection with its proposed acquisition of a competing manufacturer of ATM systems.

United StatesAntitrust/Competition Law
J. Brent Justus
J. Brent Justus

Company Pleads Guilty to Falsifying Documents in HSR Filing

On August 15, 2011, Nautilus Hyosung Holdings Inc., a Delaware corporation, agreed to plead guilty to two felony charges for submitting false documents to the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) in connection with its proposed acquisition of a competing manufacturer of ATM systems. According to the charging documents, an executive of Nautilus falsified documents and directed other employees to falsify documents in an effort to understate the competitive impact of the proposed acquisition. These documents were submitted with the initial Hart-Scott-Rodino filing and also in response to DOJ's request for additional information about the transaction. Subsequent to these false submissions, the company voluntarily disclosed that numerous documents had been altered before being submitted to the antitrust agencies, and agreed to cooperate in DOJ's criminal investigation of the alleged

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