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GE claims that Embraco has done it again, only with different partners in crime. It says one of the tactics was to agree on an extra high price increase, then lower the price through agreements so that it was still artificially high.
According to the claims, GE believes it has not only been made to overpay, but has also been deprived of innovation, which is detrimental to businesses in the technology industry and may have damaged revenues and profits for GE.
GE had a slow 2012 for its appliance business — which it had previously tried to sell — and may see the lawsuit as a means for making up some of the money, as it is asking for 3 times the monetary damages as compensation.
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