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TEXAS AND LOUISIANA COMPANIES TO PAY CIVIL PENALTIES TOTALING $450,000

WASHINGTON, D.C. -- A Texas manufacturer of seismic data acquisition systems and a Louisiana manufacturer of cable positioning systems each have agreed to pay a $225,000 civil penalty to settle charges that they violated antitrust premerger reporting requirements. The Department of Justice's Antitrust Division, at the request of the Federal Trade Commission, filed a civil lawsuit today in U.S. District Court in Washington, D.C. against Input/Output Inc. and The Laitram Corporation, for violating the Hart-Scott-Rodino Act of 1976. At the same time, the Department filed a proposed settlement, that if approved by the court, will settle the charges.

According to the complaint, Input/Output and Laitram failed to observe the required antitrust premerger waiting period. The complaint alleges that Input/Output obtained beneficial ownership of DigiCOURSE, a Laitram subsidiary, when it took operational control of DigiCOURSE while under contract to acquire the company.

Input/Output Inc. is a Delaware corporation headquartered in Stafford, Texas. The Laitram Corporation is headquartered in Harahan, Louisiana.

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 acquisitions of stock or assets over a certain value or percentage.

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