A former chemical company executive has pled guilty to his role in a conspiracy to fix prices, rig bids and allocate customers for liquid aluminum sulfate supplied to municipalities for water treatment of drinking and waste water and to pulp and paper companies in the United States. In addition to the criminal penalties facing the executive and other co-conspirators, it is anticipated that the price fixing scandal will result in lawsuits as paper companies and cities seek to recover costs wrongfully incurred due to the actions of the alleged wrongdoers.
If you or your company or municipality was a purchaser of liquid aluminum sulfate between January 1997 and July 2010, contact Attorney Group today Group to learn more about your options. We can evaluate your case at no charge and connect you with an affiliated price fixing lawsuit attorney who can assist you throughout the legal process.
Important: The time you have to pursue a claim is limited. Contact us for more information.
Claim: Municipalities and Paper Companies Cheated Out of Millions
According to justice.gov, the former executive, Frank A. Reichl, admitted in October 2015 to agreeing not to compete for contracts for liquid aluminum sulfate, a coagulant used by municipalities to treat drinking and waste water, and by pulp and paper companies in their manufacturing processes. The executive and his co-conspirators allegedly met to discuss each other’s liquid aluminum sulfate business, submitted intentionally losing bids to favor the intended winner of the business, withdrew inadvertently winning bids and discussed prices to be quoted or bid to customers.
It is believed that the price fixing scandal lasted from January 1997 through July 2010. Mr. Reichl is the first to plead guilty to participating in the multi-year conspiracy. A Special Agent in Charge of the investigation stated:
“The defendant and his co-conspirators allotted customers in furtherance of their collusive scheme. By agreeing to violate both the spirit and the letter of the competitive process, the defendant and others defrauded municipalities as well as pulp and paper companies out of millions of dollars.”
Apart from any criminal sentences imposed on Mr. Reichl and his co-conspriators, affected parties may be entitled to compensation for costs wrongfully incurred due to the actions of the conspirators. For this reason, it is expected that a liquid aluminum sulfate price fixing lawsuit will be filed.
Affected Parties May Be Entitled to Compensation
The alleged actions of the co-conspirators may have impacted municipalities, paper companies and private waste companies by stifling competition for contracts for liquid aluminum sulphate and raising prices through inflated bids to customers. If that is the case, then the affected parties may have been defrauded out of millions of dollars and could be entitled to compensation for their losses.
Affected parties are encouraged to speak with a price fixing lawsuit attorney to learn more about their rights and remedies.
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