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Price gouging enforcement and litigation is front and center for company counsel and business managers nationwide. Our weekly round up highlights some of the most relevant news and information for our clients and friends.
A businessman charged with violating the Defense Production Act last year is challenging the charges brought against him, arguing that there was no way for him to know whether the prices he charged for respirator masks broke the law. According to the man’s attorneys, state governments and private buyers were left “to compete for critical medical equipment and supplies in the market” and “offered no guidance on ‘prevailing market prices’ during the coronavirus pandemic.” His attorneys further argued that “[s]ellers are left to guess whether the prevailing market price is the one that existed before the COVID-19 crisis, or whether it reflects the increased demand and disrupted supply chains
Governors Wind Energy Coalition
Senator seeks probe of natural gas price spikes during storm Source: By MATTHEW DALY, Associated Press • Posted: Monday, February 22, 2021
WASHINGTON (AP) A Democratic senator is calling for federal investigations into possible price gouging of natural gas in the Midwest and other regions following severe winter storms that plunged Texas and other states into a deep freeze that caused power outages in millions of homes and businesses.
Minnesota Sen. Tina Smith says natural gas spot prices spiked as high as 100 times typical levels, forcing utilities and other natural gas users to incur exorbitant costs, many of which were passed on to customers.
Monday, February 22, 2021
Price gouging enforcement and litigation is front and center for company counsel and business managers nationwide. Our weekly round up highlights some of the most relevant news and information for our clients and friends.
A businessman charged with violating the Defense Production Act last year is challenging the charges brought against him, arguing that there was no way for him to know whether the prices he charged for respirator masks broke the law. According to the man’s attorneys, state governments and private buyers were left “to compete for critical medical equipment and supplies in the market” and “offered no guidance on ‘prevailing market prices’ during the coronavirus pandemic.” His attorneys further argued that “[s]ellers are left to guess whether the prevailing market price is the one that existed before the COVID-19 crisis, or whether it reflects the increased demand and disrupted supply chains created by the pandemic.
Senator seeks probe of natural gas price spikes during storm keyc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from keyc.com Daily Mail and Mail on Sunday newspapers.