DOJ Shenanigans
No One Expects The Spanish Acquisition
Enter the post-facto due diligence era. From the Financial Times:
Companies that disclose misconduct committed by businesses they are buying will not face charges under a new enforcement policy from the U.S. Department of Justice that seeks to tackle “a new era” of national security threats arising from corporate malfeasance.
Under the policy, the DoJ will not bring charges against an acquirer that voluntarily reports misconduct committed by a company it buys within six months of the deal closing, whether the illegal activity was identified before or after the purchase.