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Economic Commentary

Anatomy of a Price-Fix

On February 19, 1982, the three largest retail food chains in the Cleveland area were fined $4.2 million by a federal court for criminal price-fixing, after entering pleas of no contest to the charges against them. Four supermarket executives were given three-year suspended sentences and fined $200,000 each for their participation in the price conspiracy. In related civil actions, the federal court accepted a $20-million coupon repayment plan from the local food stores, payable to the approximately one million households that the retailers serve. This is the largest consumer settlement in U.S. history.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Bryan, Michael F. 1982. “Anatomy of a Price-Fix.” Federal Reserve Bank of Cleveland, Economic Commentary 7/12/1982.