Progressive Groups Urge DOJ to Reverse Controversial M&A Safe Harbor Policy
Progressive non-profit organizations and lobbying groups are urging the U.S. Justice Department to reverse a new policy that they argue provides a "free pass" to corporate wrongdoers. The policy, which aims to encourage companies to disclose misconduct discovered during mergers and acquisitions, has been criticized for potentially enabling more concentration of corporate power and undermining the Biden administration's anti-monopoly efforts. Under President Joe Biden, the Justice Department has shifted its approach to white-collar crime enforcement, emphasizing both stiffer penalties for executives and repeat offenders and promoting self-disclosures and compliance from companies. However, the number of enforcement cases has not significantly increased, leading to disappointment among some critics.