Word: antitrusters
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Dates: during 1960-1969
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Despite other pleas attesting to the public usefulness and position of the defendants, the federal judge handed out the greatest number of jail terms ever in an antitrust proceeding. He gave 30-day sentences to George E. Burens, 55, G.E. vice president and division manager, Lewis J. Burger, 49, G.E. division manager-both demoted from those positions since the indictment-Edwin R. Jung, 58, vice president of Clark Controller Co., and John M. Cook, 56, vice president of Cutler-Hammer Inc. He fined the 29 electrical companies a total of $1,787,000, levied fines ranging from...
...antitrust cases, executives may be fined but are rarely jailed. Judge Ganey sentenced Chiles to 30 days in jail. Chiles began automatically to return to his seat, but was startled to be seized by two armed deputy U.S. marshals and hustled off to the marshal's office to be fingerprinted...
...declaring that sympathy for the arrested was misplaced, denied that it had any "business policy or alleged conformity" that would lead its executives into violations of the law; it then called the defendants "nonconformists" who deliberately broke G.E.'s "Directive Policy 20.5" insisting on strict obedience to the antitrust laws. Judge Ganey said that it would be "naive" not to believe that top company officials knew what was going on in such vast and prolonged shenanigans, noted that G.E.'s rule "was honored in its breach rather than in its observance...
...Alabama-become aroused over a succession of almost identical bids. It tipped off the Justice Department, which began digging into the conspiracy in 1959 under the direction of Republican Trustbuster Robert Bicks (who recently entered private law practice). Often the Government has a hard time gathering evidence in antitrust cases, but this time it got a break. In October 1959, four Ohio businessmen were sentenced to jail for antitrust violations, the first in history to go to jail after pleading nolo contendere in an antitrust case. (One of them committed suicide on the way to jail.) This news sent...
...book value of the stock. To block the takeover, he went into federal court seeking an injunction to stop Ling from buying more stock, or voting what he has, plus an order making him sell his holdings, on the grounds that a merger with Chance Vought would be an antitrust violation...