N.J. gas-station operators sue Exxon claiming price manipulation

…88 gas station operators, including at least 24 from New Jersey, are suing Exxon Mobil Corp. accusing the company of delaying deliveries when prices rise to manipulate the price of gas as well as violating their franchisee rights..

http://www.nj.com
December 10, 2009

N.J. gas-station operators sue Exxon claiming price manipulation
The Star-Ledger Continuous News Desk

ExxonMobil.jpg

An Exxon gas pump. Star-Ledger

A group of 88 gas station operators, including at least 24 from New Jersey, are suing Exxon Mobil Corp. accusing the company of delaying deliveries when prices rise to manipulate the price of gas as well as violating their franchisee rights, a report on NorthJersey.com said.

The suit also alleges many of the company's actions are making it harder for operators to be successful, including increasing lease payments when leases expire and raising the portion of real estate taxes paid by operators, according to the report. The 45-page suit, filed in the U.S. District Court in Newark on Wednesday, includes operators of Exxon stations in Closter, Cliffside Park, Bergenfield and Paterson, the report said.

http://www.nj.com/news/index.ssf/2009/12/gas_station_operators_sue_exxo.html


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Risks: Delay delivery to price fix, Lawsuits, group, Must buy only through franchisor (tied buying), New agreement is much worse, Price maintenance, Opportunism Test: If asset ownership were reversed, would decision likely change?, Rent increase, Price discrimination, Price fixing, United States, 20091210 NJ gas-station

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