Often, the market feels like a constant battle: companies are trying to charge as much as they can for their products and buyers are always looking for the lowest prices. As long as this competition is open and everything is kept above board, everyone is fine with the process. But what happens if a few of those companies conspire together to artificially control supply or set an inflated price? And while Monopoly can be a fun board game, it’s not so fun for consumers to only have one place to buy a certain good.
To that end, the Bayou State laws designed to protect competitive markets and make sure pricing is as transparent and fair as possible. Here is a brief overview of these antitrust laws in Louisiana.
Antitrust Laws
In an effort to discourage price collusion between sellers and certain mergers that could give companies an unfair competitive advantage in the consumer market, states have enacted antitrust laws. Under these laws, Louisiana’s citizens can bring private lawsuits against companies for antitrust violations and can also recover their attorneys' fees.
Antitrust Law in Louisiana
The basics of antitrust laws in Louisiana are listed below. You can also visit FindLaw's Business Regulations section for more extensive information.
Antitrust Code Section |
Louisiana Revised Statutes 51.121, et seq.: Monopolies |
Is a Private Lawsuit Possible? |
Yes; attorney general also enforces |
Time Limit to Bring Claim |
Not specified |
Can a Successful Plaintiff Recover Attorneys' Fees? |
Yes |
Antitrust Enforcement
The federal government also has antitrust laws that prohibit unfair restraints, like price fixing and monopolies. Federal antitrust statutes, the Sherman Act and the Clayton Act, allow a state attorney general to sue on behalf of the state. If the lawsuit is successful, a court can order fines paid to the consumers to punish the unfair practice or order an injunction prohibiting the practice. Additionally, these laws allow competing businesses or consumers themselves to file a private right of action. If their lawsuit is successful, the plaintiff can recover damages as a result of the unfair practice.
Related Resources for Antitrust Laws
Antitrust violations and the laws that prohibit them can be difficult to understand. You can visit FindLaw’s Consumer Protection and Small Business Law sections for more resources and information on this topic. You can also contact a Louisiana antitrust attorney if you would like legal assistance with an antitrust matter, or if you would like to understand the rules and regulations regarding your business.
