During this era, the Department of Justice's Antitrust Division played a critical role in challenging these anticompetitive price-fixing
agreements that injured American consumers.
Dec 2007: OFT hands out [pounds sterling]116m in fines to leading dairy producers and supermarkets over allegations of price-fixing
in 2002 and 2003.
Fifteen airlines and three executives have been prosecuted to date for their participation in price-fixing
agreements that inflicted a heavy toll on American businesses and consumers as well as the global economy,'' said Scott Hammond, acting assistant attorney general in charge of the department's Antitrust Division.
Companies directly affected by the LCD price-fixing
conspiracies are some of the largest computer, television and cellular telephone manufacturers in the world, including Apple, Dell and Motorola.
Under section 188 of the Act it is an offence for individuals dishonestly to agree that businesses will engage in certain types of cartel activity, namely price-fixing
, limiting supply or production, marketsharing and bid-rigging.
In February this year, BA and Virgin agreed to settle a US class-action lawsuit which a firm representing plaintiffs said could see the two carriers paying more than pounds 100 million to passengers affected by the price-fixing
has no other function than to restrict competition.
Unscrupulous businessmen will be happy to hear this announcement of price-fixing
Tobacco giants Imperial Tobacco and Gallaher are also named in the Office of Fair Trading probe - just a week after the watchdog launched a major investigation into price-fixing
in the building industry.
By contrast, in price-fixing
cases, the great mystery is whether the crime happened at all.
WHISTLE-BLOWERS are being offered pounds 100,000 to reveal price-fixing
DAIRY group and cheesemaker Lactalis McLelland yesterday became the latest firm to admit its part in the price-fixing
scandal thought to have cost consumers around pounds 270m.