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LSDefine

Simple English definitions for legal terms

cartel

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A quick definition of cartel:

A cartel is a group of companies that work together to cheat customers by fixing prices, rigging bids, or dividing up markets. This is illegal and can result in criminal penalties. The government has laws to stop cartels, like the Sherman Act and Clayton Acts. Companies that break these laws can be fined millions of dollars.

A more thorough explanation:

A cartel is a group of independent companies or organizations that work together to control prices, rig bids, divide markets, or engage in other illegal activities. Cartel behavior is mainly subject to criminal penalties under US antitrust laws, although some actions may result in civil penalties.

The Sherman Act and Clayton Acts are the two main laws that regulate cartels. The Sherman Act sets a maximum corporate fine of $100 million, but fines exceeding this amount have been imposed in the past decade. The Department of Justice may seek higher fines under 18 U.S.C. § 3571(d).

For example, F. Hoffman-La Roche was fined $500 million for its involvement in an international vitamin cartel that engaged in price-rigging. Another example is the London Silver Fixing case, where a group of banks was found to have manipulated the price of silver.

These examples illustrate how cartels can harm consumers by artificially inflating prices and limiting competition. The fines imposed on cartel members serve as a deterrent to prevent future illegal behavior.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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