Antitrust issues arise when a company either acts alone or with other companies to eliminate competition through a variety of methods such as price fixing and utilizing territory agreements. Antitrust violations harm not only the consumer, but also impacts manufacturers, retailers and the consumer marketplace.
What is Antitrust Law?
Consumers and businesses are protected from these activities by state and federal law. Under federal law, the Sherman Act, the Clayton Act, and the Federal Trade Commission Act govern these activities.
Antitrust law is a broad category of laws that were created to keep businesses operating honestly. These laws hold companies to a standard to do business in a fair manner, and to prevent any one business from having too much power in the marketplace. The law prevents businesses from activities such as creating a monopoly, engaging in deceptive trade practices and other activities that give a business an unfair advantage in competition.
While a business can gain a large portion of a market, if they do this by fair means it is not illegal. What is illegal is when a business uses deceptive tactics that deceive consumers and other businesses. Some examples of antitrust violations include:
- Market allocation agreements.
- Bid rigging.
- Price fixing.
- Potential merger and acquisitions.
The consequences of these offenses are serious. Criminal penalties and civil penalties can be awarded. Under civil law, plaintiffs to an antitrust violation can obtain triple damages plus costs of the lawsuit and attorney’s fees. Also, the Attorney General can file an action a well in a class action on behalf of all consumers who have been affected by an antitrust violation.
Paynter Law has successfully represented both consumers and businesses in a variety of antitrust matters. In fact, we recently represented small businesses in an antitrust dispute against Valeant Pharmaceuticals Int., Inc. for alleged anticompetitive actions and antitrust violations in relation to specialty contact lens materials.
We have represented consumers in an antitrust matter where a propane tank manufacturer allegedly conspired to underfilling their tans, costing millions of dollars.
Our very own founder, Stuart M. Paynter started his legal career representing Microsoft in a well-known antitrust case brought by the U.S. government against Microsoft.
If you have been harmed to an antitrust violation, it is important to call us. We can immediately help mitigate the damage that has been done to your finances and business and hold the guilty parties accountable for their actions.
It is important that you don’t delay in contacting us. These claims have filing deadlines that must be followed. Failure to adhere to these deadlines permanent bars you from pursuing an action.
Call us today for a free consultation at (202) 626-4486. You can have peace of mind knowing that your first consultation is free of charge. If you decide to pursue a claim we will take your case on contingency. You will pay nothing until we recover on your behalf.