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WASHINGTON Danaher Corp co-founder
Mitchell Rales agreed to pay $720,000 to settle allegations that
he failed to report stock purchases to the government so that
they could be vetted to determine if they violate antitrust law,
antitrust enforcers said on Tuesday.
The Federal Trade Commission also reached a settlement with
hedge fund founder Ahmet Okumus, who agreed to pay $180,000 to
settle allegations that he improperly failed to notify the FTC
when he bought shares of Web.com.
The agencies said that Rales failed to report that his wife
bought Colfax Corp shares in 2011 and when he bought Danaher
Corp securities in 2008.
Rales is a co-founder of Danaher Corp, a diversified science
and technology company that makes medical diagnostic tools and a
broad range of other products.
“This settlement resolves an oversight by Mr. Rales in not
making required antitrust filings with the FTC in connection
with small purchases of additional shares in Colfax Corporation
and Danaher Corporation, both companies he co-founded many years
ago,” a Rales spokesperson said in a statement.
Rales was “pleased” to have resolved this matter, the
Attempts to reach a representative for Okumus were
Once mergers or share purchases are reported to the FTC, the
FTC or Justice Department review them to ensure that they do not
violate antitrust law.
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