KKR to Pay Record Settlement in Premerger-Filings Case

Dow Jones08-27 22:19

$250 million

The amount KKR agreed to pay to settle a case with the Justice Department alleging that the private-equity giant withheld and altered documents in premerger filings.

The settlement is the largest penalty for violating the legal requirement that companies planning major M&A file premerger details with regulators. The previous record, a $12 million penalty, was collectively held by Edwards Lifesciences and Genesis MedTech.

The DOJ said late yesterday that KKR failed to make complete and accurate filings for at least 16 deals in 2021 and 2022.

KKR said the civil penalty will have no financial impact on the firm, its funds or any of its investors and will be fully reimbursed by outside law firms. It said it acted in good faith.

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