Nebraska trucking firm founder to pay nearly $487K in fines
OMAHA, Neb. (AP) — The founder of a Nebraska trucking firm has agreed to pay a $486,900 fine to the federal government for purchasing large amounts of his company’s stock as a director without properly reporting it.
The Federal Trade Commission announced Wednesday that Clarence Werner, founder of the Omaha-based truckload carrier Werner Enterprises, Inc., reached the agreement to settle charges that he violated federal antitrust law.
Federal authorities say Werner exercised stock options in 2007, 2009, 2012 and 2019 to acquire shares of Werner Inc., but failed to make the proper federal filings required by law.
Federal law requires companies and individuals to report stock purchases over a certain large threshold to the FTC and Department of Justice and then wait for both agencies can investigate the potential competitive impact of the transaction.
The commission voted to accept the settlement, 4-0.