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June 28, 2007
Supreme Court: Minimum Prices No Longer Illegal
Minimum prices set by manufacturers and retailers are no longer automatically illegal under antitrust law, the Supreme Court ruled on Thursday.
The decision overturns a 96-year precedent and is a victory for manufacturers who want to enforce certain product prices. The court said that minimum price agreements are legal if they promote competition.
However, the ruling comes as a blow to discounters and Internet retailers who compete by offering deep price cuts.
The high court went against the wishes of 37 states and several consumer groups to take a softer stance on the issue. It will now determine whether price setting agreements are illegal on a case-by-case basis.
Posted by Blacks on June 28, 2007 09:04 AM
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