Summary: S.995 — 97th Congress (1981-1982)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate with amendment(s) (04/26/1982)

(Reported to Senate from the Committee on the Judiciary with amendment, S. Rept. 97-359)

Amends the Clayton Act to permit any person liable for damages for price-fixing to claim contribution from co-conspirators for the share of such damages attributable to their sales or purchases of goods and services.

Declares that a release or covenant not to sue or enforce a judgment received in settlement by one conspirator shall not discharge any co-conspirators from liability, unless expressly provided. Directs the court to reduce the claim against the co-conspirators subject to liability by the greatest of: (1) the amount stipulated by such release or covenant; (2) the amount paid in settlement; or (3) treble the actual damages attributable to the settling person's sales or purchases of goods or services. Declares that a settlement shall release the recipient from liability from contribution, unless it is not consumated.

Applies such claim reduction principle to price-fixing actions pending upon enactment of this Act if the court determines that it would be inequitable not to do so. Prohibits the modification of a settlement that has been signed before enactment of this Act because of the application of such principle.