Supreme Court Throws Out Gas Prices Suit [View All]

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February 28,2006 | WASHINGTON -- The Supreme Court ruled Tuesday that two oil companies could not be sued over allegations they teamed up to inflate gas prices.

Justices unanimously said gas distributors did not prove that ChevronTexaco Corp. and Shell Oil Co. violated antitrust laws in the joint venture, which ran from 1998 until 2002.

Justice Clarence Thomas, writing for the court, said that the two companies had a legitimate partnership and the authority to set prices without violating federal law.

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Tuesday's ruling could have broader implications, affecting how future joint ventures and mergers are structured, not just with oil companies.

http://www.salon.com/wire/ap/archive.html?wire=D8G26PD02.html