A PYMNTS Company

China: Fines trebled for vitamin C makers who offered rare defense

By  |  March 15, 2013

A jury has found that a vitamin C manufacturer based in China, as well as its affiliate company, are guilty of price-fixing in the US and have been ordered to pay $162 million. The $54.1 million in damages to the victims of the class action suit were trebled for Hebei Welcome Pharmaceutical Co Ltc, the vitamin C manufacturer. Sources say that the two defendants who were previously part of the case settled out of court for a reported $22.5 million. As CPI previously reported, the defendants had used a rare defense claiming that their company forced them to fix prices abroad, a defense known as the foreign sovereign compulsion doctrine.

    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.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Thomson Reuters

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