Price fixing occurs when a vendor and competitor conspire to set prices and keep the price the same in a specific market. Price scheming doesn’t involve a vendor and competitor, but one company.
Price scheming involves misrepresenting discounts on products. The products are sold in outlet and regular stores. The misrepresentation occurs when the company lists a false original price.
How Does Price Scheming Happen?
A retailer sells a product such as a sweater with a listed price on the tag. The sell price is a different price. The retailer leads the consumer to believe the product is sold for a larger discounted price than the original price. However, the “original” price isn’t an accurate price. Often, the consumer is actually paying full price for the product.
Is Price Scheming Similar to False Advertising?
Yes. False advertising occurs when there are false, deceptive, or misleading representations about a product. False advertising like price scheming is illegal and goes against unfair trade practices.
Can I Sue a Company For Price Scheming?
Yes. An individual or group of people in a class action can sue a company for price scheming.
What Is a Class Action?
A class action lawsuit is filed on behalf of a large group of plaintiffs called a class. The group of plaintiffs claim they suffered the same or similar injury because of a defendant’s wrongful conduct. The lawsuit is usually filed for cost-saving and efficiency purposes.
What Kind of Damages can I Receive if I Win the Lawsuit?
Most people who sue for price scheming usually want disgorgement and other fees like:
- General damages
- Injunctive relief
- Attorney fees
I’ve been a Victim of Price Scheming, Should I Talk to a Lawyer?
It’s in your best interest to talk to a personal injury lawyer about being a victim of price scheming by a company. The lawyer will guide you through the legal process and file a lawsuit on your behalf.