RSS
  • This just in    July 15 
German sausage makers fined $460 million for fixing prices
Sean Gallup/Getty Images
Sean Gallup/Getty Images

Twenty-one German sausage manufacturers are in quite a bind after receiving a total of 338 million Euros — approximately $460 million — in fines from Germany's antitrust authority for "colluding on prices," reports the Associated Press.

The Federal Cartel office also said that the fines include penalties for 33 individuals. According to the cartel office, major sausage makers, including Herta, a subsidiary of Nestle, "started colluding in 2003 to push through higher prices, agreeing on price ranges for various products." The cartel office received a tip from an anonymous informant.

So far, 11 of the companies fined have admitted to the crime and are cooperating.

- - 
 
 
Load More Articles

THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER

Subscribe to the Week