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Wednesday, September 18, 2019

New York secures $945,000 from property group for alleged anti-competitive business practices

By Mark Iandolo | Aug 28, 2017

NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced Aug. 21 that Simon Property Group will pay $945,000 to the state to settle allegations of using anti-competitive tactics to thwart the development of competing outlet centers in New York City.

According to Schneiderman’s office, the defendants conducted a business scheme that impeded new outlet centers from opening. The anti-competitive results harmed retailers and consumers that could have benefitted from new outlet locations in the city.

“No business should be allowed to stifle an entire industry at the expense of consumers. But for years, that's exactly what Simon Property Group did to New Yorkers,” Schneiderman said. “Simon's anti-competitive conduct blocked competition and drove up prices for New York consumers. That ends today. I am pleased this agreement will allow for new shopping outlets to finally open within New York City, and make affordable shopping more accessible for residents across the region."

Handling the case for New York were assistant attorneys general Bryan Bloom, James Yoon, Jeremy Kasha, Mariya Naulo, and Marc Foto, as well as deputy bureau chief Elinor Hoffmann, bureau chief Beau Buffier, and executive deputy attorney general for economic justice Manisha M. Sheth.

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