LAWSUITS NEWS & LEGAL INFORMATION
Billion Dollar Ice Market Probed for Price-Fixing
Three Companies Scrutinized by Federal Antitrust EnforcersFederal prosecutors in conjunction with federal antitrust enforcers are looking into allegations of price fixing in the US packaged ice market - which is worth approximately $1.8 billion annually.
According to interviews with an ex Party Time Ice vice president, some industry executives have been recorded on FBI wire taps allegedly conspiring to fix prices.
Prosecutors have already unsealed charges against Home City Ice Co, which alleged that the company conspired to suppress competition in the Detroit market from 2001 through to 2007. Home City subsequently pled guilty, and faces fines of up to $100 million.
Reddy Ice Holdings of Dallas have had their offices searched by the FBI, and Arctic Glacier Inc of Canada has been subpoenaed. However, as yet, neither company has been charged.
Legal HelpIf you or a loved one has suffered damages in this case, please click the link below to send your complaint to a lawyer to evaluate your claim at no cost or obligation.
Published on Aug-7-08
READ MORE Antitrust Settlements and Legal News