Korean Cos. Sued Over Ramen Noodle Price-Fixing

Law360, New York (September 6, 2013, 2:02 PM EDT) -- Four South Korean companies have fixed prices on dozens of instant ramen noodle products, forcing U.S. consumers to pay artificially higher prices for the food, according to a class action filed Thursday in California.

Plaintiff Stephen Fenerjian, a resident of Massachusetts, alleges that beginning in 2001 the companies and their U.S. subsidiaries agreed to raise prices six times, resulting in an average price increase of approximately 54 percent. The lawsuit claims the ramen noodle companies shared nonpublic pricing information and worked together to implement price hikes...
To view the full article, register now.