Berkshire Hathaway to pay $896K civil penalty

Berkshire Hathaway Inc. on Wednesday said it agreed to pay $896,000 to settle U.S. allegations it violated antitrust laws by failing to report the acquisition of an equity stake in USG Corp., a gypsum wallboard maker based in Chicago.

According to the Wall Street Journal, the company in December converted into equity certain notes that it had purchased from USG in 2008.

The Justice Department contended Berkshire ran afoul of guidelines governing the purchase of voting securities or assets. The agency said it was the second time Berkshire failed to file timely notice of large acquisitions.

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