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Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.
The suit was filed because of price fixing and other allegedly anti-competitive trade practices in the credit card industry. In February 2019, U.S. District Court Judge Margo K. Brodie approved a settlement in the case that amounted to $5.54 billion. [1]
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. [ 1 ] [ 2 ] Competition law is implemented through public and private enforcement. [ 3 ]
A federal district court in February 1961 fined 29 electrical manufacturing companies and 45 individuals a total of $1,924,500 for violating the antitrust laws by fixing prices and rigging bids on heavy electrical equipment, some of which was sold to the Government. [46] (See also: Allis-Chalmers § 1960s and 1970s.)
Dumping, also known as predatory pricing, is a commercial strategy for which a company sells a product at an aggressively low price in a competitive market at a loss.A company with large market share and the ability to temporarily sacrifice selling a product or service at below average cost can drive competitors out of the market, [1] after which the company would be free to raise prices for a ...
The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law.While some actions like price-fixing are considered illegal per se, other actions, such as possession of a monopoly, must be analyzed under the rule of reason and are only considered illegal when their effect is to unreasonably restrain trade.
The legacy of Vietnam War veterans and their efforts to aid current veterans and military families with their veteran benefits was the focus of a main address by John Riling III, president of the ...
Co-sponsored by Senator Joseph T. Robinson (D-AR) and Representative Wright Patman (D-TX), it was designed to protect small retail shops against competition from chain stores by fixing a minimum price for retail products. Specifically, the law prevents suppliers, wholesalers, or manufacturers from supplying goods to "preferred customers" at a ...