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Price Fixing

All articles tagged with #price fixing

DOJ Charges Major Container Makers in Global Price-Fixing Conspiracy
business12 days ago

DOJ Charges Major Container Makers in Global Price-Fixing Conspiracy

The U.S. Department of Justice unsealed a superseding indictment charging four of the world’s largest container manufacturers and 11 executives with a multi-year conspiracy to restrict production and fix prices for standard dry shipping containers from 2019 through at least January 2024, a scheme that helped double container prices and boost profits during the pandemic. One executive, Vick Ma, was arrested in France with extradition pending; others remain at large. The case, brought by the Antitrust Division with help from multiple agencies, carries Sherman Act penalties for individuals and corporations, and underscores ongoing international law-enforcement cooperation.

via Department of Justice (.gov)|
#antitrust#business#cimc
California sues Amazon over alleged price-fixing based on unsealed emails
business1 month ago

California sues Amazon over alleged price-fixing based on unsealed emails

Unsealed emails in a 2022 California lawsuit allege Amazon pressured vendors and rivals to raise prices or remove cheaper listings across retailers, using three schemes including price-matching at higher prices, pushing rivals to hike prices, and coercing product removals; some hikes occurred around Prime Day and Black Friday, with California seeking a preliminary injunction ahead of a 2027 trial; Amazon denies wrongdoing.

via Ars Technica|
#amazon#antitrust#business
Emails allege Amazon colluded with vendors to raise online prices, California claims
business1 month ago

Emails allege Amazon colluded with vendors to raise online prices, California claims

California Attorney General Rob Bonta released unsealed emails suggesting Amazon worked with vendors and retailers (including Walmart and Chewy) to raise prices on a variety of online products, from dog treats to khaki pants, with internal messages showing price increases were mirrored across sites. The disclosures are part of a 2022 antitrust suit alleging Amazon maintains a price floor to crowd out competition, a charge Amazon says is false and plans to dispute in court. A trial is scheduled for January 2027.

via The Guardian|
#amazon#antitrust#business
Beef Buyers in 26 States Eligible for $87.5M Settlement
law-and-consumer-rights4 months ago

Beef Buyers in 26 States Eligible for $87.5M Settlement

Consumers who purchased certain beef products between 2014 and 2019 in 27 states may be eligible for a share of an $87.5 million settlement from beef processors like Cargill and Tyson, who are accused of price-fixing and supply limiting to inflate prices. Eligible purchases include fresh or frozen beef from specific cuts made for personal consumption, excluding premium, specialty, and processed beef. Claims can be filed online or by mail by June 30, 2026.

via AL.com|
#beef#consumer-compensation#law-and-consumer-rights
Beef Buyers from 2014-2019 May Claim Settlement Cash
consumer-rights4 months ago

Beef Buyers from 2014-2019 May Claim Settlement Cash

Millions of Americans who purchased certain cuts of beef between 2014 and 2019 in 26 states may be eligible for a share of an $87.5 million settlement from beef processors Tyson Foods and Cargill, due to a price-fixing scheme. Eligible consumers can file claims online or by mail by June 30, without proof of purchase, to receive compensation, which aims to offset inflated beef prices caused by the alleged conspiracy.

via OregonLive.com|
#beef-settlement#cash-claim#consumer-compensation
Trump orders DOJ investigation into meatpackers over beef prices
business6 months ago

Trump orders DOJ investigation into meatpackers over beef prices

President Trump announced an investigation into the meatpacking industry for alleged collusion and price fixing amid rising beef prices, which have surged 13% year over year due to structural issues like drought and labor shortages. The move comes as the administration faces an affordability crisis and industry consolidation, with some companies previously settling price-fixing allegations. The investigation aims to address concerns over artificially inflated prices and foreign ownership influence, but the impact on prices remains uncertain.

via Axios|
#antitrust#business#meat-prices
Senate Democrats Urge DOJ Probe into Oil Companies' Alleged Collusion with OPEC
politics2 years ago

Senate Democrats Urge DOJ Probe into Oil Companies' Alleged Collusion with OPEC

Senate Majority Leader Chuck Schumer and 22 other Democratic senators have called on the Justice Department to investigate alleged collusion and price fixing between the oil industry and OPEC, following the FTC's approval of ExxonMobil's acquisition of Pioneer Natural Resources but blocking former Pioneer CEO Scott Sheffield from Exxon's board. The senators argue that such collusion could be inflating fuel prices and benefiting adversarial nations like Iran and Russia. The American Petroleum Institute has pushed back, defending U.S. oil production and criticizing inflationary policies.

via Fox Business|
#doj-investigation#oil-industry#opec
Senate Democrats Urge DOJ to Investigate Big Oil for Collusion and Price-Fixing
politics2 years ago

Senate Democrats Urge DOJ to Investigate Big Oil for Collusion and Price-Fixing

Senate Majority Leader Chuck Schumer and 22 other Democratic senators have urged the Department of Justice to investigate and prosecute alleged collusion and price-fixing in the oil industry, following an FTC investigation that suggested oil executives, including former Pioneer Natural Resources CEO Scott Sheffield, colluded with OPEC to raise crude oil prices. The Democrats argue that such actions have significantly increased energy costs for American families and businesses, and they call for an industry-wide probe under the Sherman Antitrust Act.

via The Associated Press|
#chuck-schumer#collusion#justice-department
"Elite Universities Settle Price-Fixing Case"
education2 years ago

"Elite Universities Settle Price-Fixing Case"

Five elite universities, including Yale, Duke, and Columbia, have agreed to pay $104.5 million to settle a lawsuit accusing them of violating their "need-blind" financial aid agreement by factoring in students' financial ability when making admissions decisions. The settlements raise questions about the schools' commitment to lowering tuition despite touting generous financial aid, with other universities still embroiled in the litigation.

via The New York Times|
#columbia#duke#education
Egg Producers Found Guilty of Price Fixing Conspiracy
legalcriminal-justice2 years ago

Egg Producers Found Guilty of Price Fixing Conspiracy

A federal jury in Illinois has ruled that several major egg producers, including Cal-Maine Foods, Rose Acre Farms, United Egg Producers, and United States Egg Marketers, conspired to limit the supply of eggs in the U.S. between 2004 and 2008, resulting in inflated prices. The lawsuit, originally filed in 2011, alleged that the producers used various tactics to restrict the domestic supply of eggs. Damages will be determined in a trial scheduled for next week. The case also involves food manufacturers such as Kraft Foods Global, Inc. and The Kellogg Company, who joined as plaintiffs. The family company of an Indiana egg farmer, who is running for the U.S. Senate, is among the suppliers named in the lawsuit.

via ABC News|
#antitrust-violations#damages#egg-producers