Markets Wired

Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Step N Grip, LLC, a company that sells rug accessories designed to keep rugs from curling at the corners, illegally invited its closest competitor to collude on prices.

Under the FTC order, Step N Grip must stop communicating with its competitors about prices, and it is barred from entering into, participating in, inviting, or soliciting an agreement with any competitor to divide markets, to allocate customers, or to fix prices; and from urging any competitor to raise, fix, or maintain its price or rate levels or limit or reduce service.

The Commission vote approving the final order was 4-0. (FTC File No 151 0181; the staff contact is Michael Turner, Bureau of Competition, 202-326-3649)

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