Written by Judy Godoy
(Reuters) – The US Federal Trade Commission filed a lawsuit against Pepsi (Beep) on Friday to offer preferential pricing to a larger retailer, which a source familiar with the matter confirmed was Walmart.And die).
The FTC said these practices fueled higher consumer prices by leaving other retailers, from large grocery chains to small independent stores, to pay more.
The lawsuit filed in New York alleges that the soft drink manufacturer violated the Robinson-Patman Act, a law that has gone largely unenforced for decades by the federal government.
As of 11:30:26 AM EST. The market is open.
Beep And die
Walmart and PepsiCo did not immediately respond to Reuters’ requests for comment.
“The FTC’s action will help ensure that all grocery stores and other businesses — regardless of size — get a fair shake and compete on the basis of their skills, competence and talent,” outgoing FTC Chairwoman Lena Khan said in a statement.
The FTC’s two Republican commissioners, including Andrew Ferguson, who will chair the committee after President-elect Donald Trump takes office on Monday, voted against the case.
(Reporting by Judy Godoy in California; Editing by Chizu Nomiyama)
https://media.zenfs.com/en/reuters-finance.com/2b75eb9c58c7de31b62b0272c7ce71b5
Source link