Victoria's Secret also said that the private investment firm bought shares of the company "in violation of U.S. antitrust law for nearly three years by failing to file forms required under the Hart-Scott-Rodino Act and observe the regulatory waiting period." BBRC has since made "corrective filings" and it could theoretically acquire up to 49.99% of Victoria's Secret stock once the waiting period has expired, which is expected to occur at 1 1:59 p.m. ET on May 21. "In light of the circumstances and consistent with its fiduciary duties, the Board determined it was necessary to adopt a rights plan to protect the long-term interests of all Victoria's Secret shareholders and guard against tactics to gain control of the vompany without paying all shareholders an appropriate premium for that control," said Donna James, chair, Victoria's Secret.