April 26, 2024
Economy
FTC to release info on price-fixing
[THE INVESTOR] South Korea’s antitrust watchdog will make public data on price comparison regarding price-fixing cases to help customers take legal action, government officials said on Feb. 3.
According to the officials, the information contains data on prices before and after suspected companies engage in price collusion collected by the FTC.
Customers who seek compensation from the price-rigging practices can submit the price comparison data as powerful evidence to the court. It is difficult for an individual to win a legal battle against such companies due to a lack of evidence and complexity of the price-setting formula.
“The FTC will disclose the maximum amount of information to help customers win compensation,” said one of the officials.
The watchdog handled 70 price-fixing cases in 2015, up from 35 in 2010.
(theinvestor@heraldcorp.com)
According to the officials, the information contains data on prices before and after suspected companies engage in price collusion collected by the FTC.
Customers who seek compensation from the price-rigging practices can submit the price comparison data as powerful evidence to the court. It is difficult for an individual to win a legal battle against such companies due to a lack of evidence and complexity of the price-setting formula.
“The FTC will disclose the maximum amount of information to help customers win compensation,” said one of the officials.
The watchdog handled 70 price-fixing cases in 2015, up from 35 in 2010.
(theinvestor@heraldcorp.com)
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