TWO LARGE FACE MASK SUPPLIERS REFERRED TO THE COMPETITION TRIBUNAL OVER EXCESSIVE PRICING
Updated: Dec 14, 2021
The Competition Commission (“the Commission”) has referred two major face mask suppliers to the Competition Tribunal (“the Tribunal”) for allegedly charging “astronomically” high prices on face masks.
The Commission said that the two companies had failed to provide a reasonable explanation as to why they had charged such excessive prices. The investigations conducted by the Commission found that the two suppliers had allegedly charged more than 969.07% and 956%, respectively, for face masks.
The Commission contends that the two suppliers’ pricing was a direct reaction to the COVID-19 pandemic.
The Commission’s Head of Communications stated that the Commission wants the Tribunal to issue an interdict prohibiting the firms from continuing their excessive pricing and to order the harshest penalty on the two suppliers as “punishing these companies would deter others from doing the same.”
Nortons is currently advising a number of clients on excessive pricing cases.
Should you require additional information, please contact Anthony Norton on 082 452 7336 or by email on email@example.com; or Leago Mathabathe on 082 400 6805 or by email on firstname.lastname@example.org.