Class action lawsuit filed against Walmart, PepsiCo over alleged price-fixing
A class action lawsuit alleges Walmart and PepsiCo engaged in price-fixing, inflating Pepsi prices for non-Walmart retailers.Summary
A class action lawsuit was filed on December 15th in the U.S. District Court for the Southern District of New York against PepsiCo and Walmart, alleging a nearly decade-long price-fixing scheme. The plaintiffs, Martin Gelbspan, Aaron Hinds, and Alexander Govea, claim Walmart received preferential wholesale pricing on Pepsi products, while other retailers were forced to pay inflated prices, violating antitrust law. The 33-page complaint asserts that this arrangement eliminated price competition and resulted in higher prices for consumers. The lawsuit seeks class action status for all U.S. consumers who purchased Pepsi soft drinks from retailers other than Walmart since January 2015. PepsiCo responded by stating they operate in compliance with applicable laws and are committed to fair pricing, while Walmart has yet to comment. The plaintiffs allege the companies “neutralize price competition and coordinate pricing” to maximize profits.
(Source：Knwa Fox24)