2 Epic Games Directors Resign Due to DOJ Antitrust Concerns [Yahoo! Finance]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
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Source: Yahoo! Finance
Both execs had been appointed by Tencent Holdings Ltd, which owns a minority interest in the games manufacturer. Tencent will also amend its shareholder agreement to give up its unilateral right to appoint directors or observers to the Epic board in the future, the DOJ said in a press release on Wednesday. The Clayton Act of 1914 prohibits directors and officers from serving simultaneously on the boards of competitors, a situation also known as an “interlock.” The government division said it has “unwound or prevented interlocks” in more than two dozen companies. “Scrutiny around interlocking directorates continues to be an enforcement priority for the Antitrust Division,” said Deputy Director of Civil Enforcement Miriam R. Vishio of the Justice Department's Antitrust Division. “Due to the hard work of our tremendous staff, our increased enforcement around Section 8 over the last few years has achieved substantial results and become part of our fabric.” Tencent is also the pare
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