Antitrust class action suits are usually brought when companies illegally price their products. This is usually done to increase profits, eliminate competition or allocate markets. Federal antitrust laws prohibit numerous trade practices including collusion among competitors for the purpose of price fixing. Consumers and/or competitors who suffer financial injury because of antitrust violations may seek damages in civil court. These claims are typically brought as class action lawsuits because of the large number of plaintiffs, the complexity of the cases and large size of defendant corporations.
The Department of Justice investigates and prosecutes criminal antitrust violations with assistance from the Federal Trade Commission (FTC). Much of the enforcement of these laws, however, is done in civil court. Section 4 of the Clayton Antitrust Act of 1914, allows parties injured by antitrust violations to sue for three times the amount of actual damages including court fees and attorney’s fees. The effect of this legislation is to allow private parties to act like “independent prosecutors” to enforce antitrust laws.
Not every law firm has the capacity and resources to handle antitrust class actions. These cases can be very costly and time consuming. An antitrust case could easily take several years to reach a settlement or judgment. If you or your company would like to bring a class action lawsuit, it’s important to hire a class action lawyer whose firm can afford to see the case to resolution.
The Chicago attorneys at Ankin Law Office, are knowledgeable and experienced in handling class action suits of all kinds. Our firm is well capitalized and has the capacity to manage large cases. We operate throughout Illinois including Cook, DuPage, Lake, Will, McHenry, LaSalle, Kankakee, McLean and Peoria counties. If you feel like you have been wronged as the result of an antitrust violation, contact us to discuss the potential of your case.