07.15.2009 New Law Extends the Benefits Provided to Corporations that Voluntarily Report Antitrust Violations to Federal Regulators
07.15.2009In June, federal legislation was enacted that provides corporate defendants with a significant incentive to self-report antitrust violations to antitrust regulators. Specifically, a corporation that has self-reported an antitrust violation and obtained amnesty from criminal prosecution from the Department of Justice Antitrust Division (“Division”) under its Leniency Program will be subject to single, rather than treble, damages in any subsequent civil action. This limitation on civil damages for amnesty recipients was a provision of the Antitrust Criminal Penalties Enforcement Act of 2004, but was only enacted for a five year period. Accordingly, absent passage of the new law (Public Law 111-30), amnesty recipients would have resumed being subject to treble damages in civil actions as of June 22. The new law, which was strongly supported by the Division, extends the limitation on damages for an additional one year period.
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