FTC tosses Biden-era suit against Pepsi
The Federal Trade Commission tossed a lawsuit against PepsiCo filed in the last days of Lina Khan’s tenure on the commission under former President Biden.
The suit alleged Pepsi illegally squeezed smaller independent stores by reserving its best deals for big retailers. The action was filed under the Robinson-Patman Act, a 1930s law that prohibits price favoritism for larger customers over small businesses, which hadn’t been pursued under the FTC since 2000.
FTC Chair Andrew Ferguson called it a waste of resources for “legally dubious partisan stunts.”
“The Biden-Harris FTC rushed to authorize this case just three days before President Trump’s inauguration in a nakedly political effort to commit this administration to pursuing little more than a hunch that Pepsi had violated the law,” he said.
Pepsi stock was flat on the news leading up to market close.
FTC Chair Andrew Ferguson called it a waste of resources for “legally dubious partisan stunts.”
“The Biden-Harris FTC rushed to authorize this case just three days before President Trump’s inauguration in a nakedly political effort to commit this administration to pursuing little more than a hunch that Pepsi had violated the law,” he said.
Pepsi stock was flat on the news leading up to market close.
