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NISA [10]
2 years ago
11

What is the stated cause of action in the 2005 complaint filed by the U.S. Justice Department against the Zeon Chemical company

for antitrust violations
Business
1 answer:
Svetradugi [14.3K]2 years ago
4 0

Answer:

Zeon was charged with violating Section 1 of the Sherman Act, which states that, "Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".

The Department charged that Zeon and unnamed co-conspirators carried out the conspiracy by:

  • Participating in conversations and meetings to discuss prices of NBR to be sold in the United States and elsewhere;
  • Agreeing, during those conversations and meetings, to raise and maintain prices of NBR to be sold in the United States and elsewhere; and
  • Issuing price announcements and price quotations in accordance with the agreements reached.

The offence carries a maximum fine of $10 million for corporations and a maximum penalty of three years imprisonment and a fine of $350,000 for individuals for violations occurring before June 22, 2004. The maximum statutory fine may be increased to twice the gain the conspirators derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum fine.

Explanation:

A cause of action is a legal term which connotes a series of facts that are enough to warrant a legal action against a defendant. It begins with the major premise which is a statement of the law violated, followed by supporting  facts to justify the claim and then the consequences of such an action. In the 2005 complaint filed against Zeon Chemical company by the United States Justice Department, the said company was believed to be perpetrating price-fixing which is a violation of the antitrust laws, in this case, the Sherman antitrust laws.

The company was found to be fixing prices of synthetic rubber with some accomplices. They agreed to increase the price of this commodity and leave it at that level. This is an attempt to monopolize the market and limit competitors. This act is illegal. They pleaded guilty to the act and paid a fine of $10.5 million dollars.

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mestny [16]
Hello,

The answer should be option D "<span>It encourages companies to produce more of the product".

Reason:

A saturated market is a product that is distributed which means companies would have to make more of that product in order to make money, and to have more consumers buy their products. The answer is not option A because the consumer will demand more of the product but not to be higher. Its not option B because the product is being distributed among people but not different consumers. Its also not option C because its not against other markets. Therefore the answer is option D.

If you need anymore help feel free to ask me!

Hope this helps!

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4 0
3 years ago
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What is the difference between excluded services and services that are not reasonable and necessary?
Kitty [74]
Excluded services are those services which health insurance companies do not pay for. Those services may be needed or necessary but they are not covered by the health insurance plan and the person concerned will have to pay for the service himself. Services that are not reasonable or necessary refer to those services which are not deem necessary in the treatment of a patient.
8 0
3 years ago
Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang
Colt1911 [192]

Answer:

Total= $292,520

Explanation:

Giving the following information:

Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale.

Cash budget for June:

Sales= [(400*1.03)*750]*0.3= 92,700

Sales from May= (400*750)*0.7= 210,000

Salary= (4,000)

Commision= [(400*1.03)*750]*0.02= (6,180)

Total= $292,520

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3 years ago
Lydia Hagberg went to her bank, California Federal Bank, FSB, to cash a check made out to her by Smith Barney (SB), an investmen
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Answer:

Yes the absolute privilege for communications made in judicial or other official proceedings apply to statements made when a citizen contracts the police to report suspected criminal activity

Explanation:

Absolute priviledge for communication is the provision that covers a person from legal action on grounds of defamation for statements made. Under certain circumstances a person can make defamatory statements and be immune from legal action.

In this scenario Lydia Harberg went to California Federal Bank to cash a check that was suspected to be fake.

Nolene Showalter contacted SB to confirm. Based on the information provided at that time, the check was confirmed to be fake. The implication was that a fraud was being perpetrated.

So his action of calling the police is justified. SB only verified they gave out wrong information the first time

8 0
3 years ago
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Answer:

Whazup

Explanation:

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