Thursday, August 11, 2016
FTC Sues 1-800 Contacts for Restraint of Trade
"A leading proponent of the Coalition for Contact Lens Consumer Choice, 1-800 Contacts has been called to task over business practices found to undermine contact lens marketplace competition, antitrust regulators say." That's the post from the American Optometric Assn. (AOA). "The U.S. Federal Trade Commission (FTC) filed suit against 1-800 Contacts on Aug. 8, alleging that the company unlawfully used its market power to orchestrate and maintain anti-consumer agreements with rival online contact lens retailers. These agreements not only suppress competition in online search advertisements, but also "restrict truthful and non-misleading internet advertising to consumers, resulting in some consumers paying higher retail prices for contact lenses," according to the FTC's administrative complaint." Read more.