Board members at Udemy Inc., SolarWinds Corp. and three other public companies resigned in recent weeks because they simultaneously served as directors of competing companies, the Justice Department said.
The moves came after DOJ officials signaled earlier this year that they would enforce a law that bars people from serving on the boards of rival companies, an arrangement that could lead to illicit collusion. The Justice Department is reviewing whether other directors and companies have violated the law, senior officials said.
“Competitors sharing officers or directors further concentrates power and creates the opportunity to exchange competitively sensitive information and facilitate coordination—all to the detriment of the economy and the American public,” Assistant Attorney General Jonathan Kanter said.
‘Enforcement 40’ for 2020
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