Price-Fixing


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Price-Fixing

The organized setting of what the public will be charged for certain products or services agreed to by competitors in the marketplace in violation of the Sherman Anti-Trust Act (15 U.S.C.A. § 1 et seq.).

Horizontal price-fixing involves agreements to set prices made among one particular class of sellers—such as producers, wholesalers, or retailers.

Vertical price-fixing occurs between different categories of the sellers of products and services, such as between a manufacturer and wholesaler, wholesaler and distributor, or distributor and retailer.

Cross-references

Antitrust Law.

References in periodicals archive ?
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.
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 scams.
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.