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Antitrust Law – Price Fixing

Chicago, Illinois

Chicago price fixing antitrust lawyersPrice fixing occurs when manufacturers, retailers, or buyers of the same product or service make an agreement to set prices at a common level. The parties engaged in these price fixing practices do so in order to achieve a mutual financial benefit at the expense of others.

In some cases, businesses involved in price fixing will push the price of a good or service to a higher rate than would be achievable without such an agreement, forcing consumers to pay unreasonably excessive prices. In other instances, price fixing can be used to set prices so low that it forces a competitor out of business due to an inability to match such a low price and still make a profit.

Types of Price Fixing Agreements

Common types of price fixing agreements include:

  • Setting a common minimum price for goods or services
  • Intentionally reducing output or sales in order to drive prices up
  • Establishing uniform costs and markups
  • Discontinuing a free service or fixing the price of one component of an overall service
  • Purchasing products from a supplier at a specified maximum price
  • Intentionally sharing or pooling markets, territories, or customers

Price Fixing is Against the Law

State and federal antitrust laws have made price fixing agreements illegal. Most price fixing cases are governed by federal law, in particular the Sherman Antitrust Act. However, most states have also enacted laws to prevent businesses from engaging in these types of anticompetitive practices. In some instances, these state antitrust laws apply as well.

Businesses and consumers who have been damaged by anticompetitive price fixing agreements can file an antitrust lawsuit to recover damages and receive injunctive relief.

When a large group of businesses or consumers have been harmed by price fixing agreements, these antitrust cases can be filed as a class action lawsuit. In a class action antitrust price fixing case, one lawsuit is filed on behalf of multiple plaintiffs who have been damaged by the actions of the businesses engaging in these anticompetitive practices. In many instances, filing a class action lawsuit is the most effective way for multiple plaintiffs to recover damages in a price fixing case.

Harvey L. Walner & Associates Can Help

For more than 35 years, the Chicago class action attorneys at Harvey L. Walner & Associates have been fighting for the rights of consumers and businesses who have suffered damages as a result of illegal price fixing agreements. During this time, we have participated in class action cases which have recovered almost $2 billion for our clients. In many of these lawsuits, our attorneys have served as lead or co-lead counsel. Very few law firms in the Chicago area can boast such a strong track record of success in class action cases.

Please contact Harvey L. Walner & Associates today to schedule your free antitrust price fixing consultation. We serve class action clients nationwide from our offices in Chicago, Illinois.