price fixing

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price fixing

Physician practice The illegal practice by a group of health care providers of establishing a standard price for procedures, thus creating a monopoly on a particular market segment
References in periodicals archive ?
The price-fixing firms may be based in the United States or abroad, but their activity is directed at fixing prices in foreign markets, not the American market.
These price-fixing conspiracies affected millions of American consumers who use computers, cell phones and numerous other household electronics every day," says Thomas Barnett, assistant attorney general in charge of the Department's Antitrust Division during the Bush administration.
The four are part of a group of 10 past and present BA staff who have been refused immunity under a plea agreement between the airline and the US Department of Justice (DoJ) over the price-fixing.
This price-fixing announcement assumes that price-increases are caused by local factors.
The investigation comes just days after the OFT apologised to Morrisons and agreed pounds 100,000 damages after making incorrect accusations against the retailer in a dairy price-fixing probe.
Price-fixing cartels illegally divert billions of dollars from consumers' wallets into the coffers of firms that are committing felonies.
It is the first time the Office of Fair Trading have offered cash for information and it follows their recent success in exposing a pounds 270million price-fixing scandal.
Supermarkets Asda, Sainsbury's and Safeway, prior to its takeover by Morrisons, as well as a number of dairies, have already admitted price-fixing during 2002 and 2003.
On 28 November, Australia's Qantas Airways settled its liability to the US Government for illegal price-fixing within its Freight Division.
If found guilty of operating a price-fixing or market-sharing cartel, an airline can expect to be fined as much as 10% of its worldwide sales.
Lufthansa has agreed to pay $85m to settle US class-action lawsuits stemming from alleged cargo price-fixing and has received conditional immunity from antitrust investigators.