Law Daily Report

Justice Department notifies PGA Tour of probe into LIV Golf merger: report

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 87%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

The PGA Tour is facing a second antitrust probe from the Justice Department following news of its merger. The Wall Street Journal reports that the DOJ notified the Tour of its review.

The decision prompted several players to file an antitrust lawsuit against the Tour, though some eventually abandoned the litigation. LIV Golf also joined the lawsuit, prompting the Tour to file a countersuit.PIF’s golf-related businesses,

The PGA Tour logo is seen during the second round of the Farmers Insurance Open at Torrey Pines South in San Diego, California, on Jan. 29, 2021. Reports of a potential probe into the new business venture comes less than a week after Rep. John Garamendi, D-Calif.,to investigate the merger, while also proposing legislation to strip the organization of its tax-exempt status.

"I would hope that the Justice Department takes it up. I would hope the European Union does, and I would certainly call upon my congressional committees, for example, the House Judiciary Committee," he continued.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Senate Democrats press for Justice Department inquiry into PGA Tour-LIV Golf mergerDemocratic Sens. Elizabeth Warren and Ron Wyden urged the Justice Department to examine potential antitrust abuses from the PGA Tour-LIV Golf deal.
Source: CNBC - 🏆 12. / 72 Read more »

Elizabeth Warren demands Justice Department closely scrutinize PGA Tour's Saudi deal | CNN BusinessDemocratic Sens. Elizabeth Warren and Ron Wyden are calling on the Justice Department’s antitrust division to inspect the controversial partnership between the PGA Tour and the Saudi Arabian Public Investment Fund.
Source: CNN - 🏆 4. / 95 Read more »

WSJ News Exclusive | Justice Department to Investigate PGA Tour-LIV Golf PactThe probe introduces uncertainty to the agreement between warring bodies that stunned the golf industry, which was already facing scrutiny under federal antitrust law.
Source: WSJ - 🏆 98. / 63 Read more »

Justice Department Will Investigate PGA Tour-LIV Merger, Report SaysThe former rivals surprised the world last week when they announced plans to merge.
Source: Forbes - 🏆 394. / 53 Read more »