Coca-Cola Shares Carry Penalty for Barry Diller

     WASHINGTON (CN) – Entertainment mogul Barry Diller will pay $480,000 to settle charges related to his acquisition of Coca-Cola voting securities, the Justice Department said Tuesday.
     In an antitrust action filed the same day at the request of the Federal Trade Commission, the government accused Diller of violating the notification requirements of the Hart-Scott-Rodino Act of 1976.
     An amendment to the Clayton Act, the Hart-Scott-Rodino Act imposes notification and waiting period requirements on individuals and companies over a certain size before they consummate acquisitions resulting in holding stock or assets above a certain value.
     Diller’s alleged violations occurred when the value ranged from $63.4 million to $68.2 million. The current value is $70.9 million.
     Regulators say the maximum civil penalty for premerger notification violations under the HSR Act in Justice Department lawsuits is $16,000 a day.
     The parties filed a stipulation, final judgment and motion to enter that final judgment.

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