Progressive Groups Urge DOJ to Reverse Controversial M&A Safe Harbor Policy
Progressive non-profit organizations and lobbying groups are urging the US Justice Department to reverse a new policy that they believe gives corporations a "free pass" for wrongdoing during mergers and acquisitions. The policy, announced by Deputy Attorney General Lisa Monaco, offers a safe harbor to firms that report misconduct within six months of acquiring a new company. Critics argue that this policy encourages corporate concentration and undermines the Biden administration's anti-monopoly efforts. They also highlight the low number of corporate prosecutions under the Biden administration, which is on par with the second year of the Trump administration.
