Rep. Johnson shepherds bill to curb price fixing, boost consumers
Congressman oversees passage of H.R. 2675 to promote detection, prosecution of illegal anti-competitive business practices
June 9, 2009
WASHINGTON -- Dealing a blow to corporate price fixing, Congressman Hank Johnson (GA-04) managed passage of the bipartisan “Antitrust Criminal Penalty Enhancement and Reform Act of 2004 Extension Act” (ACPERA) or H.R. 2675 on June 9.
The Act extends the 2004 provisions through June 22, 2010.
ACPERA promotes the detection and prosecution of corporate antitrust violations by extending protection to whistle-blowers who expose anti-competitive, illegal activity. ACPERA also greatly increased the maximum fines and jail sentences for antitrust violators.
The Act strengthens the Division’s Corporate Leniency Program by allowing the Department of Justice to limit the civil liability of a party cooperating in the DOJ’s prosecution of an antitrust violation.
Separately, the Act amends Sections 1 through 3 of the Sherman Act by increasing the maximum corporate penalty from $10 million to $100 million; the maximum individual fine from $350,000 to $1 million; the maximum jail term for individuals convicted of criminal antitrust violations from 3 to 10 years.
Prior to the Act, the DOJ was only able to limit the criminal charges against a cooperating party, not the civil liability.
“The positive impact of this law cannot be overstated,” said Johnson, while managing the bill. “In the first half of this year, ACPERA has aided the Antitrust Division in securing jail sentences in 85 percent of its individual prosecutions, and more than $900 million in criminal fines.”
H.R. 2675 now goes to the Senate, where it will be introduced and voted on in the coming weeks.
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