Tag: price fixing
Price fixing advice on a confidential basis
First published by Author on July 27, 2018 in the following categories: Price Fixing Price Hikes Pricing and tagged with price fixing | pricing
If you need Price fixing advice on a confidential basis, we can advise you, and we may be able to assist you with legal action as well.
Many instances of competition law infringements are highlighted by investigations conducted by the UK’s competition watchdog, the Competition and Markets Authority (CMA), or where a whistle-blower from an organisation involved in something like price fixing comes forward and confesses the activity to regulators.
But what about the traders and small businesses who are in need of price fixing advice as a victim of it themselves?
Epilepsy pill price hike of 1,300%
First published by Author on May 25, 2018 in the following categories: Price Hikes and tagged with price fixing
An epilepsy pill price hike of 1,300% has raised eyebrows given that the healthcare authorities have, in reality, had no choice but to accept the massive increase.
The US company at the centre of the price hike, Essential Phrama, claims that the monumental price hike is vital to “ensure the continued supply” of the epilepsy pill, but with such huge costs usually having to be borne on healthcare authorities and patients, questions must be asked.
In the UK, it’s common for such huge price hikes to be investigated by the Competition and Markets Authority (CMA); the competition watchdog whose job is to ensure fair competition that’s in the interests of consumers.
A review of the construction recruitment agencies competition investigation
First published by Admin on February 23, 2018 in the following categories: Investigations and tagged with cartels | price fixing
Six construction recruitment agencies were found to be in breach of the Competition Act 1998 between 2004 and 2006 by creating a cartel in order to boycott another company, Parc UK, and fix the fee rates they would charge other construction companies as well.
The six companies reportedly met on five occasions where they agreed to not use Parc, who were a mediator between recruitment agencies and constructions companies. Parc was apparently putting pressure on the margins of the six construction recruitment agencies involved.
read more
Multiple shipping companies admit to price-fixing agreements for their services
First published by Admin on February 16, 2018 in the following categories: Industry and tagged with price fixing | shipping
Wallenius Wilhelmsen Logistics (WWL) has pleaded guilty to price-fixing and was ordered to pay almost £70 million for breaching competition laws.
Three other companies have reportedly followed WWL’s footsteps and have also pleaded guilty.
Several former and current executives for WWL have been indicted on charges of anti-competitive behaviour over accusations of price-fixing for some of its international ocean shipping. Former executives were apparently charged in November 2016 along with a current executive as well.
read more
CMA investigating pharmaceutical sector for alleged excessive and unfair pricing over liothyronine tablets
First published by Admin on February 02, 2018 in the following categories: Investigations and tagged with cma | price fixing
After a year of making its preliminary probes, the Competition and Markets Authority (CMA) has decided that there are substantive grounds and evidence to continue investigations into the pharmaceutical sector for allegedly charging excessive and unfair prices for liothyronine tablets.
Liothyronine tablets are used to treat hypothyroidism. Without enough thyroid hormones, our bodies’ metabolism slows down, making us feel tired, depressed and cold, all the while putting the pounds on. Liothyronine isn’t the main drug used to treat hypothyroidism but a lot of people are not suited to the primary drug and can only take liothyronine.
The suspected players in the market may be distorting competition for the thyroid hormone drugs
read more
Model agencies fined £1.5 million by CMA for breaking competition laws
First published by Admin on November 17, 2017 in the following categories: Investigations and tagged with cma | price fixing
CMA has released an open letter to the creative industry after certain model agencies were fined £1.5 million for anti-competitive practices
The Competition and Markets Authority (CMA) have concluded their investigations into multiple top-modelling agencies for breaching anti-competition laws.
After issuing fines totalling more than £1.5 million for the five agencies and its trade association, the CMA has produced a report of its decisions and a warning via an open letter to those in the creative sector who participate in illegal price-collusion schemes.
The CMA also intends to continue its crackdown on cartels in U.K. businesses.
read more
Suppliers of galvanised steel tanks have been slapped with hefty fines by the Competition and Markets Authority for anti-competitive behaviour
First published by Admin on June 23, 2017 in the following categories: Latest and tagged with cma | price fixing
The Competition and Markets Authority (CMA) has concluded their investigations into suppliers of galvanised steel tanks after over 3 years of investigations.
The CMA has issued a series of penalty fines to four suppliers, reaching £2.5million in total. Details of the investigation and reasons for the size of the fine were published on the CMA’s website on 29th March 2017.
read more
Four estate agents fined £372,233 for anti-competitive price-fixing
First published by Admin on May 26, 2017 in the following categories: Investigations and tagged with cma | price fixing
Four residential estate agencies admitted to anti-competitive practices for price-fixing and have been fined thousands of pounds as a result.
In December 2015, an investigation was launched by the Competition and Markets Authority (CMA) after a previous CMA investigation into the advertising of fees in the estate and letting agency sector. The current investigation looked into whether the estate agents breached Chapter I of the Competition Act (CA). In simpler terms, Chapter I of the CA highlights agreements between companies that prevent, restrict or distort competition.
What they found was evidence of anti-competitive behaviour.
read more
Looking back on one of the biggest anti-competitive investigations in the construction industry…
First published by Admin on May 19, 2017 in the following categories: Investigations and tagged with price fixing
Nearly 100 companies were fined up to £130 million for cover pricing back in 2009.
Back in November 2004, the now closed Office of Fair Trading (OFT) opened up their investigations into more than a hundred companies suspected of foul play in the infrastructure industry, mainly for cover pricing. Cover pricing is an illegal activity under the Competition Act in England and Wales where participants warp the tender process of bidding for a job.
In total, their investigation resulted in fines being issued to over 100 companies totalling nearly £130 million.
read more
U.S. poultry producers subject to multiple lawsuits for alleged anti-competitive behaviour
First published by Author on January 03, 2017 in the following categories: Latest and tagged with price fixing
Tyson Foods are subject to anti-competitive lawsuits for alleged poultry price-fixing and collusion in America.
Being the world’s second largest processor of poultry, competition regulation is especially necessary to ensure they’re not making a monopoly and adversely affecting the markets.
read more