"Fair market prices exist for a reason,” says New Jersey Attorney General
“Fair market prices exist for a reason,” says New Jersey Attorney General upon announcing record fine for beer brewer.
The Attorney General alleged that the brewer, fined $USD2m for trade practice violations, had sold beer tap systems at below market and tried to hide the transactions by misleading descriptions on invoices.
The Attorney General said: "The improper trade practices allegedly employed by Hunterdon Brewing threatened to disrupt competition and throw the wholesale... industry into disarray. Consumers suffer when these laws and regulations are ignored. The Division’s actions ensure that New Jersey consumers will continue to benefit from a stable alcoholic beverage industry.” (http://nj.gov/oag/newsreleases17/pr20170612a.html)
Hunterdon had sold draft beer tap systems for “below fair market prices” and hid the charge
Acting Director the of Alcoholic Beverage Control added: "When a wholesaler utilizes discriminatory trade practices, competition among wholesalers is stifled and consumers lose the benefits which open competition provides.”"