As consumers, we tend to believe in a “free market” where we want to pay as little for goods and services as possible, while companies compete for our business and try to charge as much as possible. As long as the battle for sales is open, transparent, and above board, we’re generally OK with it.
But what if a few companies are conspiring to set an inflated price, or uniting to artificially control supply? That’s why the Land of Enchantment has strict statutes to protect open markets and ensure fair prices. This is brief overview of antitrust laws in New Mexico.
Antitrust Laws
Companies are prohibited from gaining an unfair competitive advantage in the consumer market via collusion under federal and state antitrust laws. These laws also try to prevent monopolies by blocking certain mergers and acquisitions. In order to enforce these provisions, New Mexico law allows both private citizens and state attorney general to bring lawsuits against companies for antitrust violations.
Antitrust Law in New Mexico
New Mexico’s antitrust statutes are highlighted below.
Antitrust Code Section |
New Mexico Statutes 57-1-1, et seq.: Antitrust Act |
Is a Private Lawsuit Possible? |
Yes; attorney general power to enforce |
Time Limit to Bring Claim |
4 yrs. for civil penalty New Mexico Statutes 57-1-12: Limitations of Actions; 3 yrs. for criminal penalty New Mexico Statutes 57-1-6: Criminal Penalty; Cannot bring both civil and criminal New Mexico Statutes 57-1-9: Election of Remedies |
Can a Successful Plaintiff Recover Attorneys' Fees? |
Yes |
Antitrust Enforcement
There are numerous business regulations that are designed to protect free trade and commerce. Along with New Mexico’s state laws, the United States government uses two federal statutes, the Sherman Act and the Clayton Act, to assist states in prosecuting antitrust claims. These federal statutes prohibit any interference with the ordinary, competitive pricing system, as well as price discrimination, exclusive dealing contracts, and mergers that may lessen competition. If you suspect a person or business has committed an antitrust violation, you can contact the New Mexico Attorney General’s Consumer Protection Division.
More Resources for New Mexico Antitrust Laws
Many state statutes covering corporate malfeasance can be as complex and convoluted as the conspiracies they are intended to prevent. For additional articles and resources on this topic you can visit FindLaw’s sections on Consumer Protection and Small Business Law. If you would like legal assistance with an antitrust matter, you can consult with a New Mexico antitrust attorney.
