ATT Pays Millions for Violation

2009-02-23 20:49:51 (GMT) (WiredPRNews.com - Law, News)

AT&T is set to pay over $2 million for a merger violation.

WiredPRNews – Telecommunications giant AT&T is in agreement to pay a large settlement for a court order violation stemming from a merger. As reported by Andrews Publications, the company will pay $2 million for violating a pact to divest two businesses, and acquiring an additional telecommunications business.

As noted in the report, the consent decree was filed in federal district court in March of last year, after having been made to resolve a lawsuit in 2007 stemming from allegations of a pending monopolistic buyout. AT&T was purportedly supposed to take measures to ensure independent operation of the divested businesses and have no influence on their management.

Deborah A. Garza, acting Assistant Attorney General for the Justice Department Antitrust Division is quoted as stating of the settlement, “When companies fail to comply with a court order, the Antitrust Division will take swift and certain action to ensure that companies fulfill their responsibilities.”