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PepsiCo faces U.S. lawsuit over unfair pricing practices
The lawsuit, filed by a restaurant owner in the U.S. District Court for the Southern District of New York, alleges that PepsiCo engaged in anti-competitive, unfair, and deceptive business practices related to the sale of its Pepsi soft drinks.
According to media reports, the plaintiff claims PepsiCo offered retailers such as Walmart “unfair price advantages,” putting other sellers of its products at a competitive disadvantage.
American multinational food, snack, and beverage corporation PepsiCo is facing a lawsuit in the US over allegations that it offered its Pepsi drinks to certain retailers at preferential prices not made available to others.
The lawsuit, filed by a restaurant owner in the U.S. District Court for the Southern District of New York, alleges that PepsiCo engaged in anti-competitive, unfair, and deceptive business practices related to the sale of its Pepsi soft drinks.
According to media reports, the plaintiff claims PepsiCo offered retailers such as Walmart “unfair price advantages,” putting other sellers of its products at a competitive disadvantage. According to the suit, the advantages included allowances, promotional payments, and services that were not made available to other retailers on proportionally equal terms.
The suit further states that, as a result, Walmart was able to offer lower prices on the products than the plaintiff and other class members, leading to significant business losses for them.
This year in May, The National Company Law Appellate Tribunal (NCLAT) rejected an effort to initiate insolvency proceedings against PepsiCo India, siding with the food and beverage conglomerate in a dispute centered on contested interest payments.
In a ruling issued Wednesday, the NCLAT dismissed an appeal by SNJ Synthetics Ltd., a supplier of PET preforms and thermoplastics, which had sought to trigger corporate insolvency resolution against PepsiCo under the bankruptcy code. The case was reported on the Bar & Bench.
The three-judge bench found that the debt claim against PepsiCo had been largely settled, with the principal amount already paid. What remained, a Rs 1.05 crore claim for interest, was deemed insufficient to support a bankruptcy proceeding.
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