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GE Claims Conspiracy for Overpayments
By AP
LOUISVILLE, KY - General Electric has filed a lawsuit in Kentucky claiming it overpaid for a component in its refrigerators due to a price-fixing conspiracy involving competitor Whirlpool and two European suppliers.
 
GE claims the conspiracy began in the 1990s to inflate the price of compressors that help keep refrigerated foods fresh or frozen.
 
As one of the largest buyers of the compressors, GE says its refrigerator business was hurt by the conspiracy. The company is seeking unspecified punitive damages along with an award three times the amount of its damages.
 
The lawsuit was filed in federal court in Louisville, home of GE's appliance business. Defendants include Whirlpool subsidiaries that produce and sell refrigerator compressors and two European suppliers of compressors.
 
A spokeswoman for a Whirlpool subsidiary says the company did not harm GE.

 


Published 01:12 PM, Wednesday Feb. 20, 2013
Updated 01:20 PM, Wednesday Feb. 20, 2013

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