New York upgrades antitrust laws

Stefan Mileschin · 6th August 2020, 17:52

Could lock up big tech CEOS

New York state is introducing a bill that would make it easier to sue big tech companies for alleged abuses of their monopoly powers.

Bill S8700A, [The Twenty-First Century Anti-Trust Act] now being discussed by New York's senate consumer protection committee, would update New York's antiquated antitrust laws for the 21st century.

The bill's sponsor, Senator Mike Gianaris said Big Tech's power has grown to dangerous levels and "we need to start reining them in".

New York's antitrust laws currently require two players to collaborate in a conspiracy to conduct anticompetitive behavior such as price setting. In other cases companies may underprice products to the point where they are even incurring a loss just to drive others out of the market -- anticompetitive behavior that New York's laws would currently struggle to prosecute.

https://fudzilla.com/news/51306-new-...nti-trust-laws

6th August 2020, 17:52	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 149,135	New York upgrades antitrust laws Could lock up big tech CEOS New York state is introducing a bill that would make it easier to sue big tech companies for alleged abuses of their monopoly powers. Bill S8700A, [The Twenty-First Century Anti-Trust Act] now being discussed by New York's senate consumer protection committee, would update New York's antiquated antitrust laws for the 21st century. The bill's sponsor, Senator Mike Gianaris said Big Tech's power has grown to dangerous levels and "we need to start reining them in". New York's antitrust laws currently require two players to collaborate in a conspiracy to conduct anticompetitive behavior such as price setting. In other cases companies may underprice products to the point where they are even incurring a loss just to drive others out of the market -- anticompetitive behavior that New York's laws would currently struggle to prosecute. https://fudzilla.com/news/51306-new-...nti-trust-laws

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