Price-Fixing

Price-fixing is an illegal act whereby two or more companies in presumed competition with one another conspire to set or fix prices for a good or service in an attempt to maximize profits. Competitors agree to manipulate prices, thereby forcing consumers to pay artificially inflated costs. This results in a loss to taxpayers, consumers, and the economy. The illegal act of price-fixing is estimated to cost consumers $60 billion each year. Price-fixing is criminalized in the United States under the Sherman Antitrust Act of 1890. Unfortunately, violations of antitrust laws are common among a wide array of industries. Price-fixing has been found in the steel, glass, pipe, lead, oil-drilling, gasoline, industrial chemical, natural gas, fertilizer, disability insurance, auto repair, diamond, airline ticket, real estate, accounting, ...