New York Antitrust Laws
Antitrust laws are meant to foster competition and job growth by limiting any one company's control of a given market and artificially inflating prices. Most antitrust laws were passed after a handful of powerful monopolies squashed competition and stifled economic growth in the last nineteenth century.
Antitrust cases usually are handled by the federal government, particularly since they typically involve interstate commerce, but states also play a role. New York antitrust laws allow private lawsuits against defendant businesses, as long as claims are brought within four years.
The basics of New York antitrust laws are summarized below. Check out FindLaw's Small Business Law center to learn more about business regulations.
|Antitrust Code Section||Gen. Bus. §340 ¶5., et seq.|
|Is a Private Lawsuit Possible?||Yes; no prerequisite for administrative action but private party plaintiff must notify the attorney general|
|Time Limit to Bring Claim||4 yrs. (suspended during pendency of federal action based in whole or in part on same matter)|
|Can a Successful Plaintiff Recover Attorneys' Fees?||Yes|
Note: State laws are constantly changing -- contact a New York commercial law attorney or conduct your own legal research to verify the state law(s) you are researching.
Research the Law:
- New York Code
- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
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