Dec. 16, 2011 – A Federal Trade Commission investigation uncovered what they felt was an inadvertent failure by the CEO of Comcast to report some sizeable stock purchases prior to pre-merger reporting rules.
It was bad legal advice, apparently, which got CEO Brian Roberts into this jam. Roberts agreed to pay a $500,000 fine, according to Anton Troianovski in the Wall Street Journal.
The Journal report went on to point out this is a common mistake. “Bill Gates paid an $800,000 penalty for similar violations while he was head of Microsoft Corp. John Malone of Liberty Media paid a $1.4 million fine in 2009.”