General Electric Co. filed an antitrust lawsuit claiming it overpaid for the component due to an alleged price-fixing conspiracy involving a couple of Whirlpool Corp. subsidiaries and two European suppliers also named as defendants. The suit is over a compressor that helps create cold air to keep refrigerated foods fresh or frozen. GE claims the conspiracy began as early as 1996 to illegally inflate the price of the key refrigerator part. As one of the largest buyers of the compressors, GE says it was "a target and a victim" of the conspiracy, hurting its refrigerator business. The company, based in Fairfield, Conn., is seeking unspecified compensatory and punitive damages along with a monetary award three times the amount of its damages. It also seeks an injunction against the defendants.
It's interesting to see potential anti-trust cases with international players involved.
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