Wyoming Antitrust Laws
Most of us like a good bargain - we seek them out at stores, restaurants and online. The flip side of capitalism is that while companies may have competitive pricing, they are also generally trying to charge as much as they can for their products. Normally, this competition is open and transparent, with consumers hoping this competition for our dollars will generally result in lower prices.
But what if companies aren't entirely open and transparent? What happens if several companies conspire to falsely set prices or mislead consumers about supply? Thankfully for us, the Cowboy State has laws designed to protect open markets and make sure pricing is fair. This is a brief summary of antitrust laws in Wyoming.
State-enforced antitrust laws are intended to discourage both collusion between companies and certain mergers and acquisitions that could give one or more companies an unfair advantage in the consumer market. Wyoming’s antitrust statutes allow its citizens to bring private lawsuits against companies, enforced by the state attorney general. Plaintiff’s can even recover their attorneys' fees along with damages if the antitrust claims are successful.
Antitrust Law in Wyoming
The main provisions of antitrust laws in Wyoming are highlighted in the table below. You can visit FindLaw's Business Regulations section for more extensive information.
|Antitrust Code Section||40-4-101, et seq.|
|Is a Private Lawsuit Possible?||Yes; attorney general and county attorney power to enforce|
|Time Limit to Bring Claim||Not specified|
|Can a Successful Plaintiff Recover Attorneys' Fees?||Not specified|
Wyoming isn’t the only state with antitrust laws to protect free trade and commerce from unfair restraints, like price fixing and monopolies. The federal government has two antitrust laws -- the Sherman Act and the Clayton Act -- that can assist states in prosecuting antitrust cases:
- A state attorney general can sue on behalf of the state: if the lawsuit is successful, a court can order an injunction prohibiting the practice or ordering fines paid to the consumers to punish the unfair practice; or
- Competing businesses or consumers themselves can file a private right of action: if the lawsuit is successful, the plaintiff can recover damages for injuries suffered as a result of the unfair practice.
Related Resources for Antitrust Laws
Antitrust laws and the practices they cover can be complicated. If you would like legal assistance with an antitrust matter, or if you would like to understand the rules and regulations regarding your business, you can contact a Wyoming antitrust attorney. You can also visit FindLaw’s Consumer Protection and Small Business Law sections for more articles and resources on this topic.