price fixing

(redirected from Pricefixing)
Also found in: Medical, Legal, Financial.

price fixing

n.
1. The setting of artificially high prices for goods or services by unlawful agreement of competing companies.
2. Governmental setting of prices for goods or services.

price′ fix`ing

or price′-fix`ing,


n.
the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.
[1945–50]

price fixing

An illegal arrangement between competitors to set a common minimum price for their products. Price fixing is a conspiracy usually carried out by large corporations that dominate a particular market.
References in periodicals archive ?
The tribunal has the power to both subpoena evidence and fine companies 10% of their annual turnover for pricefixing or illegal anti-competitive behaviour.
The OFT's Ann Pope said: "The OFT takes allegations of pricefixing seriously.
China has fined six mostly foreign baby formula companies a total of $108mn for pricefixing, the government said yesterday, in reportedly the country's biggest-ever anti-trust penalty.
IF the fuel companies under investigation for possible pricefixing are found guilty, then I hope they get a suitable punishment.
332, 352-53 (1982) (finding a pricefixing scheme by a physician's association unlawful, in part because the prices were fixed by the doctors themselves).
Let's stipulate that there may have been some manner of pricefixing here, perhaps even arranged in "private rooms for dinner in upscale Manhattan restaurants," as the complaint darkly charged.
However, when it comes to behavioral enforcement aimed at stomping out anti-competitive practices such as pricefixing and monopolization, the MOU could mean more scrutiny and pressure on companies.
Counter-fraud work ranges from issuing penalty notices as a result of patients falsely claiming prescription charges to the multi-million-pound claims against drug companies for alleged pricefixing.
143) Corporate executives jailed in the electrical pricefixing conspiracy of the early 1960s stated that incarceration had profoundly affected their lives.
IN THE early 1990s, family man Mark Whitacre decided to blow the whistle on a global pricefixing scam in the agricultural industry.
Based on a true story, the movie tells how a corporation high flier called Mark Whitacre suddenly decides to tell all about his company's involvement in a global pricefixing conspiracy.
In a well-known (to those of us in antitrust) 1980 case, the Tokyo High Court convicted several oil executives of criminal pricefixing.