The Federal Trade Commission (FTC) has imposed a record penalty of $5.68 million against Verdun Oil Company II LLC, XCL Resources Holdings, LLC, and EP Energy LLC for unlawful pre-merger coordination during a 2021 transaction. This action follows a broader legal challenge led by the U.S. Chamber of Commerce and other business groups against new merger filing notification requirements proposed by the FTC and the Justice Department. The business groups argue that these new requirements will impose excessive burdens on companies seeking mergers and acquisitions by requiring them to share significantly more information with antitrust agencies. The lawsuit aims to block the enforcement of these changes, which the FTC asserts are necessary to address information gaps in merger evaluations.