Featured news from Economy
The company accepted the anti-competitive behavior of a small number of former employees of a local sales office in Pooler, Georgia.
Argos USA LLC, an indirect subsidiary of the company, accepted the anti-competitive behavior of a small number of former employees of a small local sales office in Pooler, Georgia, United States.
For example, the company has signed an agreement with the Antitrust Division of the United States Department of Justice and will make a payment of $ 20 million to resolve an anti-competitive behavior investigation.
It’s worth remembering that Argos was charged with participating in a conspiracy to set prices, manipulate bids, and allocate markets for ready-mixed concrete sales in the Southern District of Georgia and elsewhere, US Department announced of Justice Monday to (DPA).
“Employees of Argos and other ready-mixed concrete companies carried out the conspiracy by raising prices to customers, allocating ready-mixed concrete, charging fuel surcharges and environmental surcharges, and offering offers to customers at covert and uncompetitive prices. The accused conspiracy began in 2010 and lasted until approximately July 2016, the DPA said in a statement.
Makan Delrahim, deputy attorney general of the Department of Justice’s antitrust division, said, “This resolution reflects the division’s commitment to holding to account those who mislead US consumers with critical commercial products at competitive prices. Pricing, market allocation and bid rigging are not only unethical, but illegal. The division, along with its law enforcement partners, remains focused on prosecuting those responsible for this type of behavior. “
According to a corporate statement published in the Financial Superintendence, the administration of Argos USA, outside Pooler’s office, “did not participate in or condone any conduct that was conducted in violation of the company’s compliance policy.”
The Pooler assets “were sold years later and are no longer part of Argos USA. Argos USA has accepted responsibility for the behavior of its former employees and will continue to actively work with the DOJ on this matter, ”the company added.