February 28, 2014 |
HARRISBURG - Call it a sweet victory for Big Chocolate. A federal judge ruled Wednesday in favor of the nation's largest candy makers in a price-fixing lawsuit filed by 22 supermarket and drug store chains. U.S. District Judge Christopher C. Conner found that there was no evidence that Hershey Co., Mars Inc., and Nestle U.S.A. colluded to boost prices on candy bars. The class-action suit, brought by chains including Rite Aid, CVS, Safeway, Giant Eagle, and Food Lion, alleged that the chocolate companies - which control 75 percent of the candy market - knowingly engaged in parallel price increases on single-sale candy bars.
September 18, 2009 |
Would I lie to you? Mark Whitacre, the central figure in Steven Soderbergh's The Informant! , is a guy who blows the whistle and his own horn at the same time. It's a stunt that leaves him, and us, breathless. And not always in a good way. Based on the curious and curiouser tale of the real-life agribusiness exec (Matt Damon, bewigged and wiggy), the truth-based film about a compulsive liar wavers between corporate thriller and screwball comedy. The result is like Michael Clayton , that story of moral remorse, but played for uneasy laughs.
March 7, 2005 |
Twelve years ago, the U.S. Justice Department came up with a marvelously potent weapon to fight price-fixing in big business - an amnesty program for whistle-blowers. Any company engaged in price-fixing could avoid prosecution by admitting its sins and handing up evidence against its coconspirators. The amnesty program proved astonishingly successful, so much so that top Justice Department officials call it the "cornerstone" of their effort to prosecute national and international price-fixing cartels.
September 26, 2003 |
The former chief executive officer of a British company convicted of participating in a global price-fixing conspiracy has been charged along with three others with misleading a federal grand jury in Philadelphia. When the grand jury issued subpoenas in 1999, the government alleged, senior executives of the Morgan Crucible Co. ordered documents destroyed or hidden. Top company officials are also accused of creating a "script" to deceive investigators and of rehearsing witnesses before grand jury appearances.
April 8, 2003 |
From 1990 to 2000, a venerable British manufacturer participated in a global conspiracy to fix the price of tiny but vital carbon products used in trains operated by PATCO, SEPTA and other subway systems. When federal prosecutors in Philadelphia issued subpoenas to the company's U.S. subsidiary in 1999, top executives in England acted swiftly. They ordered incriminating documents destroyed. They encouraged conspirators at another company to lie to a federal grand jury in Philadelphia.
April 20, 2001 |
Federal antitrust prosecutors in Philadelphia and lawyers for the Mitsubishi Corp. have jointly recommended that Mitsubishi pay a $134 million criminal fine in a steel-industry price-fixing case. The recommendation goes to U.S. District Judge Marvin Katz, who presided over a two-week- long jury trial in Philadelphia earlier this year. If accepted, the fine would be one of the highest ever imposed in a price-fixing case. Last Feb. 12, Mitsubishi, one of the world"s largest corporations, was convicted by a jury of aiding in a conspiracy to fix the prices of graphite electrodes.
February 13, 2001 |
Mitsubishi Corp., one of the world's largest companies, could be facing a $400 million criminal fine after being convicted yesterday by a federal jury of aiding in a worldwide price-fixing conspiracy that impacted the U.S. steel industry. The company, which had total sales in 1999 of more than $100 billion, will be sentenced May 10 by U.S. District Judge Marvin Katz, who presided over the two-week jury trial. A spokesman for Mitsubishi said the Japanese-based corporation "is profoundly disappointed by the jury's decision" and will appeal.
April 12, 2000 |
Carbone of America Industries Corp. pleaded guilty and was fined $7.15 million by a federal judge in Philadelphia this week for being part of an international cartel that fixed the price of isostatic graphite. Carbone's president and chief executive, Michel Coniglio, a French national, also was fined $100,000 and must leave the United States in seven days because of his admitted role in the price fixing conspiracy. The sentences were imposed late Monday by U.S. District Judge Harvey Bartle III under plea-bargains negotiated by prosecutors with the U.S. Justice Department"s Antitrust Division office in Philadelphia.
February 10, 2000 |
A wealthy businessman yesterday was sentenced to nine months in prison and fined $1 million by a federal judge in Philadelphia for conspiring to hike the worldwide price of steel-making graphite electrodes. Robert J. Hart, former UCAR Carbon Co. vice president, pleaded guilty earlier and has agreed to pay the fine within three years. Chief U.S. District Judge James T. Giles said Hart, of Wilton, Conn., is to report to a federal prison in 25 days. Hart's boss, Robert C. Krass, 63, former UCAR president, also pleaded guilty earlier to price fixing.
November 23, 1999 |
Time is running out for investors hoping to recoup money lost to a price-fixing scheme that existed in the Nasdaq Stock Market between 1989 and 1996. The lawsuit, which claimed that about 1 million investors lost money when Nasdaq stock market dealers collaborated with each other to keep more profit for themselves, was settled more than a year ago. Now, people affected by the scheme must fill out complicated forms by Dec. 8 to get a piece of the $1.03 billion settlement. While the lawsuit was settled in New York, Philadelphia-area accounting firms are handling the processing of claims.