Xpensive Wino
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Guitar maker Fender and four top keyboard firms are said to have been raided in a price-fixing probe.
The five companies have not been officially named but Fender is believed to have been included, reports the Sunday Telegraph.
Dawn raids at their British officers were reportedly conducted by staff from the Competition and Markets Authority (CMA).
The CMA website has five separate cases open relating to 'musical instruments and equipment: suspected anti-competitive agreements', with each one beginning on April 17, 2018.
The pages state that 'this investigation is at an early stage and no assumptions should be made that competition law has been infringed'.
They also state that the initial investigation is due to last until Autumn 2018.
It is believed that the inquiry will focus on whether or not any attempt has been made to manipulate sales of musical instruments and pro-audio equipment, according to the Sunday Telegraph.
Any company that breaks competition laws can be fined up to 10 per cent of their global turnover, company directors can be disqualified for up to 15 years and can face up to five years in prison.
Fender has been contacted for comment.
http://www.dailymail.co.uk/news/art...-raided-price-fixing-probe.html#ixzz5Gl34jp3l
The five companies have not been officially named but Fender is believed to have been included, reports the Sunday Telegraph.
Dawn raids at their British officers were reportedly conducted by staff from the Competition and Markets Authority (CMA).
The CMA website has five separate cases open relating to 'musical instruments and equipment: suspected anti-competitive agreements', with each one beginning on April 17, 2018.
The pages state that 'this investigation is at an early stage and no assumptions should be made that competition law has been infringed'.
They also state that the initial investigation is due to last until Autumn 2018.
It is believed that the inquiry will focus on whether or not any attempt has been made to manipulate sales of musical instruments and pro-audio equipment, according to the Sunday Telegraph.
Any company that breaks competition laws can be fined up to 10 per cent of their global turnover, company directors can be disqualified for up to 15 years and can face up to five years in prison.
Fender has been contacted for comment.
http://www.dailymail.co.uk/news/art...-raided-price-fixing-probe.html#ixzz5Gl34jp3l