Contact lens companies have been working together to create price floors for their products, prohibiting retailers from offering competitive discounts and removing consumers’ ability to shop around for savings. Legislators in Utah recently passed a bill that would outlaw this practice but in May a federal appeals court temporarily blocked it from being enacted. But on Friday, the court vacated that injunction, allowing the new law to move forward. [More]
the price fix is in
Appeals Court Blocks Utah Law That Would Have Banned Price-Fixing On Contact Lenses
By 5.14.15
In recent years, many of the country’s biggest contact lens manufacturers moved to set minimum sale prices for their products, meaning any retailer wishing to discount these lenses couldn’t go below that price floor. The practice — which would have been illegal until a 2007 Supreme Court ruling — has come under scrutiny from federal lawmakers, and Utah state legislators passed a bill earlier this year that would outlaw this form of price-fixing in the state. However, a federal appeals court has temporarily sided with the lens makers and blocked that law from being enforced. [More]
