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| The Hart-Scott-Rodino Antitrust Improvements Act is named after its cosponsors: | The Hart-Scott-Rodino Antitrust Improvements Act is named after its cosponsors: [[UnitedStates/PhilipHart|Hart]], [[UnitedStates/HughScott|Scott]], and [[UnitedStates/DemocraticParty|Democratic]] [[UnitedStates/Congress|congressman]] '''Peter W. Rodino''' (NJ-10). |
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| * [[UnitedStates/PhilipHart|Philip Hart]] * [[UnitedStates/HughScott|Hugh Scott]] * [[UnitedStates/DemocraticParty|Democratic]] [[UnitedStates/HouseOfRepresentatives|congressman]] Peter W. Rodino (NJ-10) The Hart-Scott-Rodino Antitrust Improvements Act was the first [[UnitedStates/CommerceLaw/AntitrustLaw|anti-trust law]] in decades. It featured bipartisan cosponsorships and was signed by president [[UnitedStates/GeraldFord|Ford]]. The act amends the earlier [[UnitedStates/CommerceLaw/ClaytonAct|Clayton Act]]. |
The act was the first [[UnitedStates/CommerceLaw/AntitrustLaw|anti-trust law]] in decades. It featured bipartisan cosponsorships and was signed by president [[UnitedStates/GeraldFord|Ford]]. It amended the earlier [[UnitedStates/CommerceLaw/ClaytonAct|Clayton Act]]. |
Hart-Scott-Rodino Antitrust Improvements Act
The Hart-Scott-Rodino Antitrust Improvements Act, passed in 1976, is an anti-trust law.
Description
The Hart-Scott-Rodino Antitrust Improvements Act mandates that private parties must file a notification and report form to the FTC and U.S. Department of Justice before executing any merger or acquisition of securities or assets. The parties must then wait a period for the federal government to request further information, request an extension of the period, or file a lawsuit against the merger or acquisition.
Attorney generals of state governments are empowered to bring antitrust lawsuits against companies on behalf of their states' citizens. They may file for monetary damages in a federal court, but further restrictions apply with regard to whom such a lawsuit can be filed.
History
The Hart-Scott-Rodino Antitrust Improvements Act is named after its cosponsors: Hart, Scott, and Democratic congressman Peter W. Rodino (NJ-10).
The act was the first anti-trust law in decades. It featured bipartisan cosponsorships and was signed by president Ford. It amended the earlier Clayton Act.