Department of Justice opens antitrust investigation of American Equity’s investor
January 24, 2023 by Tyler Jett
A prominent shareholder of American Equity Investment Life Holding Co. has stepped back from its fight with the West Des Moines insurer amid a federal investigation.
In a regulatory filing on Friday, Brookfield Asset Management disclosed that it won’t appoint a new representative to American Equity’s board because Department of Justice investigators are looking into whether Brookfield violated an antitrust law.
Click HERE to read via The Des Moines Register
Wink’s Note: Holy buckets! I still remember when the CEO of American Equity barely earned $100,000 annually in salary. My, how things have changed over the past 17 years!
And this just in: Brookfield Asset Management is being investigated by the Department of Justice for possible antitrust violations.
While Brookfield had a position on American Equity’s board, they acquired American National.
Tyler Jett with The Des Moines Register says:
“According to Friday’s filing, the Department of Justice is investigating whether Brookfield violated a federal antitrust law that bans companies from holding board seats on certain competitors.” -sjm
