Deferring to Chinese government, US Court of Appeals overturns vitamin C cartel judgment
27 September 2016
On 20 September 2016, the Second Circuit Court of Appeals in the United States overturned a federal district court judgment in a class action antitrust lawsuit against two Chinese companies accused of conspiring to fix the price and output of vitamin C sold into the United States. The opinion overturned a jury verdict against the Chinese companies awarding the plaintiffs approximately USD 147 million (close to RMB 1 billion) in damages. The case is noteworthy because the Court of Appeals held that the companies were compelled to fix price and output by Chinese law, and therefore their conduct was outside the antitrust jurisdiction of U.S. federal courts.
Read the full publication here.