OFT Smells Something Rotten With Dairy Prices

Law360, New York (September 20, 2007, 12:00 AM EDT) -- After months of investigating the grocery market, Britain's top antitrust watchdog has accused the country's biggest supermarkets and their suppliers of conspiring to keep dairy product prices artificially high.

The Office of Fair Trading released its provisional findings on Thursday in the probe of the supermarket industry, maintaining that the top grocery stores and others deliberately hiked up the prices of milk, butter and cheese in 2002 and 2003.

“This is a very serious case,” said OFT Executive Director Sean Williams. “Consumers have lost out to...
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