Anticompetitive tactics may not be easy to recognize immediately, but your Virginia business will definitely feel the effects if you are the subject of unfair competition. In particular, Richmond, VA healthcare providers are at risk of monopolistic conduct, as consolidation in the industry leads many hospitals and insurers to engage in illegal price fixing, reimbursement, and bogus peer reviews. Still, the signs of illegal anticompetition may be difficult to spot. It is even more challenging to enforce your rights, even when your business is clearly affected by unfair trade practices.
Federal and state laws do protect you if your business is harmed by anticompetitive practices, offering a private right of action when government agencies decline to enforce statutory provisions. However, you need strong legal advocates on your side when going up against monopolists. Our antitrust lawyers at the Law Offices of George M. Sanders, P.C. have specific knowledge and experience in this very unique area of law. We are dedicated to fighting on behalf of Richmond, VA business owners and healthcare providers seeking to level the playing field on competition.
Virginia’s Antitrust Act and Federal Laws
The first steps to fighting unfair competition were laws enacted by the US Congress and state lawmakers. Antitrust statutes have historically been key in breaking down the trusts engaging in anticompetitive practices. These laws greatly benefit consumers and the entire economy; in the healthcare industry they also help providers and ensure patient choice.
At the federal level, there are three main antitrust laws:
- The Sherman Act prohibits any agreement or combination that restrains trade, including monopolies.
- The Clayton Act covers certain mergers, acquisitions, and specific practices where the effect is “substantially to lessen competition.” It also bans interlocking directorates, a situation where the same person is making business decisions for competing companies.
- The Federal Trade Commission Act prohibits unfair competition and deceptive acts, especially as they relate to truth in advertising.
The Virginia Antitrust Act is similar to the federal laws in many ways, allowing an Attorney General action as well as a right of enforcement for private parties.
Richmond Antitrust Attorneys Protecting Free Trade
If you are successful in pursuing a private action against a trust, monopoly, or other organization engaging in anticompetitive practices, you may be able to recover damages for your losses. In addition, it is possible to seek equitable remedies, like temporary restraining orders and injunctions to terminate the unlawful activities. At the Law Offices of George M. Sanders, P.C., our skilled lawyers will help you navigate such civil antitrust cases as:
- Price fixing;
- Collusion and monopolistic mergers;
- Conspiracies in restraint of trade;
- Group boycotts;
- Abuses of the peer review process; and,
- Many other types of claims.
Trust an Experienced Richmond Antitrust Lawyer with Your Case
Your success with a private enforcement action against anticompetitive practices starts with retaining an attorney that has specific experience in antitrust cases. Whether you are a healthcare provider or business owner in another industry, our antitrust attorneys at the Law Offices of George M. Sanders, P.C. can help you obtain the best possible outcome under federal or Virginia laws. Please call (312) 624-7642 to schedule an initial consultation, or visit us online to learn more about our legal services.