A PYMNTS Company

One of four Chinese companies seeks to settle vitamin C case for $10.5m

By  |  May 22, 2012

One of the four defendant Chinese companies has filed a proposed settlement in U.S. District Court in Brooklyn to resolve In re: Vitamin C Antitrust Litigation. The lawsuit, brought by commercial buyers of vitamin C, alleges that the companies formed a cartel to raise prices by limiting exports. The settlement calls for Aland Nutraceutical Co. (formerly Jiangsu Jiangshuan) to pay $9.5 million to direct purchasers, and $1 million to indirect purchasers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Judge Brian Cogan had rejected the companies’ defense that the Chinese government required price coordination in September.

    Full content: Reuters

     

    Related content: Public Vs. Private Enforcement of Antitrust Law: A Survey

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.