pwshub.com

Kroger sues FTC, calling its in-house judges unconstitutional

By Jody Godoy

NEW YORK (Reuters) -Kroger sued the U.S. Federal Trade Commission on Monday, seeking to block the regulator from reviewing the grocery chain's proposed $25 billion merger with smaller rival Albertsons in its in-house tribunal.

Kroger called the tribunal unconstitutional, saying the matter should be resolved in a federal court.

The lawsuit filed in Cincinnati comes a week before the company is scheduled to face a trial where the FTC has asked a federal judge in Portland, Oregon, to temporarily block the merger while its in-house judges review the deal.

The FTC said in a lawsuit filed in February that the deal will raise prices for millions of Americans and squeeze the labor market for unionized grocery store workers.

That in-house review could take years, Kroger said in the lawsuit.

Kroger Chairman Rodney McMullen said in a statement that the company is "prepared to defend this merger in the upcoming trial in federal court – the appropriate venue for this matter to be heard."

"We are asking the court to halt what amounts to an unlawful proceeding before the FTC's own in-house tribunal," he said.

A spokesperson for the FTC declined to comment.

(Reporting by Jody Godoy in New York; editing by Jonathan Oatis)

Source: finance.yahoo.com

Related stories
2 weeks ago - The grocer is among a minority of large retailers analyzed by the Consumer Financial Protection Bureau that charge customers fees to withdraw funds when they make purchases, the federal agency said.
2 weeks ago - Kroger CEO Rodney McMullen attributed rising grocery prices to increasing costs for retailers as he defended the grocery chain's proposed $25 billion merger with rival Albertsons at a trial on Wednesday. In testimony a trial in Portland,...
1 month ago - Kroger’s electronic shelving labels allow it to price staple foods like airline tickets, the senator charged in a letter to its CEO.
1 month ago - Kroger had previously promised to lower grocery prices by $500 million at Albertsons locations. The supermarket mega-merger, first announced in October 2022, was expected to create a grocery empire with more than 4,000 stores.
5 days ago - As the FTC’s antitrust lawsuit makes its way through an Oregon court, an expert discusses why the ruling may surprise you.
Other stories
17 minutes ago - (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its top rank amid efforts to revive sales and battle rising...
17 minutes ago - Trump maintains a roughly 60% stake in Trump Media & Technology Group, which trades on the Nasdaq under the ticker symbol "DJT."
17 minutes ago - FedEx and other transportation firms expanded operations during the pandemic-fueled online shipping boom. The company has been trying to cut billions in overhead costs after demand normalized. In June, FedEx completed a restructuring...
18 minutes ago - On CNBC's “Mad Money Lightning Round,” Jim Cramer said Wells Fargo & Company (NYSE:WFC) is going to go higher, adding that it's a “winner.” On Sept. 17, the San Francisco-based bank launched specialized Application Programming Interfaces...
18 minutes ago - Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.