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DOJ Antitrust Division Cracks Down on Interlocking Directorates
Hogan Lovells – On 19 October 2022, the Antitrust Division of the US Department of Justice (the Division) announced that seven directors have agreed to resign from the boards of directors of five companies in response to the Division’s “competition concerns” related to the Clayton Act’s prohibition on interlocking directorates. None of the companies or directors admitted liability. Assistant Attorney General Jonathan Kanter remarked that the resignations come as the Division is “undertaking an extensive review of interlocking directorates across the entire economy.”