The U.S. filed a civil lawsuit on Tuesday against private equity firm KKR & Co , "for repeatedly flouting the premerger antitrust review process," alleging the company avoided antitrust scrutiny for at least 16 deals from 2021 to 2022.

The US Justice Department sued private equity firm KKR & Co. for allegedly withholding documents during government-required merger reviews. Most Read from BloombergThese Homes Withstood the LA Fires.

The Justice Department filed a lawsuit against KKR alleging the private equity company made improper pre-merger filings, which could cost it more than $650 million in penalties.