| FOR IMMEDIATE RELEASE
TUESDAY, MARCH 31, 1998
TDD (202) 514-1888
WASHINGTON, D.C. A Kentucky-based owner and operator of funeral homes and cemeteries and its Canadian parent will pay $500,000 to settle charges that they violated premerger reporting requirements, the Justice Department announced today.
The Department's Antitrust Division, at the request of the Federal Trade Commission, today filed a civil suit against Loewen Group International, Inc. and its parent, the Loewen Group Inc. The complaint alleged that Loewen acquired $16 million of the voting securities of Prime Succession Inc., an Indiana-based owner and operator of funeral homes and cemeteries, without complying with antitrust premerger notification requirements.
The Hart-Scott-Rodino Act of 1976 imposes notification and waiting period requirements on individuals and companies over a certain size before they can consummate acquisition of stock or assets over a certain value or ownership percentage.
The suit and proposed settlement, which must be approved by the court, were filed in U.S. District Court in Washington, D.C.
A description of the case is contained in the attached press release from the Federal Trade Commission.