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California AG, Senator Hurtado unveil bill to sharpen state's antitrust law

( February 24, 2025, 18:24 GMT | Official Statement) -- MLex Summary: California Attorney General Rob Bonta and state Senator Melissa Hurtado announced legislation seeking to more effectively deter corporations from restraining trade, fixing prices, and reducing competition — actions that can raise prices and harm workers, businesses, and consumers. “Too many wealthy corporations see penalties for breaking the law as simply the cost of doing business. SB 763 would sharpen the teeth of a century-old law by increasing penalties for those looking to illegally profit at the cost of workers, consumers, and honest businesses,” Attorney General Rob Bonta said. “As the fifth largest economy in the world, and home to some of the wealthiest corporations, California has a responsibility to fight for a fair and competitive marketplace, especially amid the unprecedented wave of corporate mergers and market consolidation that we are seeing today.” The law would increase criminal penalties and add civil penalties under California's Cartwright Act.Statement follows in full. Also see attached file. ...

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