Text: HSB00092 Text: HSB00094 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 553.12, Code 2001, is amended to read 1 2 as follows: 1 3 553.12 REMEDIES. 1 4 1. The state or a person who is injured or threatened with 1 5 injury by conduct prohibited under this chapter may bring suit 1 6to: 1 71.a.PreventTo prevent or restrain conduct prohibited 1 8 under this chapter and remove the conduct's effect by 1 9 injunction, divestiture, divorcement, dissolution of domestic 1 10 enterprises right to do business in this state, compelling the 1 11 forfeiture or restraint of the issuance of a certificate of 1 12 incorporation, permit to transact business, license, or 1 13 franchise, or granting other equitable relief. The state may 1 14 bring suit under this section without posting bond. 1 152.b.RecoverTo recover three times the actual damages 1 16 resulting from conduct prohibited under this chapter, and the 1 17 cost of suit, including, but not limited to, reasonable 1 18 attorney fees. 1 19 2. The right of the state or person to bring an action 1 20 under this chapter and be awarded the relief described in this 1 21 section shall not be denied on the ground that the state or 1 22 the person is an indirect purchaser. Provided, however, that 1 23 in any case in which claims are asserted against a defendant 1 24 by both direct and indirect purchasers, the court shall take 1 25 all steps necessary to avoid duplicate liability for the same 1 26 injury. 1 273. Recover, at the court's discretion, exemplary damages1 28which do not exceed twice the actual damages awarded under1 29subsection 2, from a person other than a city or county or1 30legal entity created by a city or county, if:1 31a. The trier of fact determines that the prohibited1 32conduct is willful or flagrant; and,1 33b. The person bringing suit is not the state.1 344. Recover the necessary costs of bringing suit, including1 35a reasonable attorney fee. However, the state may not recover2 1any attorney fee.2 2 3. The attorney general may bring a civil action in the 2 3 name of the state, as parens patriae on behalf of persons 2 4 residing in the state, to secure monetary relief for injury to 2 5 property directly or indirectly sustained by those persons 2 6 because of any violation of this chapter. Available remedies 2 7 shall include those described in subsection 1, paragraph "b". 2 8 To the extent practical, monetary relief under this subsection 2 9 shall be distributed to injured parties in proportion to their 2 10 losses. If the cost of administering reimbursement outweighs 2 11 the benefit to the person or if the person cannot be located 2 12 through reasonable efforts, the court may order disgorgement 2 13 of moneys or property by awarding the moneys or property to 2 14 the state to be used by the attorney general for the 2 15 administration and implementation of this section. 2 16 a. The court shall exclude from the amount of monetary 2 17 relief awarded in the action any amount that duplicates 2 18 amounts which have been previously awarded for the same injury 2 19 or which are allocable to persons who have excluded their 2 20 claims pursuant to paragraph "c". 2 21 b. If notice of the pendency of the parens patriae action 2 22 is required, the attorney general shall, at such times, in the 2 23 manner, and with such content as the court may direct, cause 2 24 notice to be given by publication. If the court finds that 2 25 notice given solely by publication would deny due process of 2 26 law to any person, the court may direct further notice be 2 27 given according to the circumstances of the case. 2 28 c. Any person on whose behalf an action is brought under 2 29 this subsection may elect to exclude from adjudication the 2 30 portion of the attorney general's claim for monetary relief 2 31 attributable to the person by filing notice of such election 2 32 with the court within the time period specified in the notice 2 33 described in paragraph "b". Any person failing to give notice 2 34 shall be barred during the pendency of the action from 2 35 commencing an action in the person's own name for the injury 3 1 alleged in the action, and the final judgment in the action 3 2 shall be res judicata as to any such claim. 3 3 Sec. 2. Section 553.13, Code 2001, is amended to read as 3 4 follows: 3 5 553.13 CIVIL PENALTY. 3 6 In addition tosuit under section 553.12, the state may3 7bring suit tothe remedies provided in section 553.12, the 3 8 court may, in an action brought by the state, assess a civil 3 9 penalty against an enterprise whose conduct is prohibited 3 10 under this chapter.The suit may be tried to the jury and the3 11civil penalty provided for in this section shall be imposed by3 12the court.The civil penalty assessed shall not exceed ten 3 13 percent of the total value of the specific commodities by 3 14theircommodity brand, make, and size or of services either of 3 15 which were the subject of the prohibited conductsold in the3 16relevant market in this state by the enterprisepurchased by 3 17 persons of this state in each year in which this conduct 3 18 occurred, but this penalty shall not exceed one hundred fifty 3 19 thousand dollars. In computing this penalty, only the four 3 20 most recent years in which the prohibited conduct occurred, as 3 21 of commencement of suit under this section, shall be used in 3 22 the computation. 3 23 Sec. 3. Section 553.15, Code 2001, is repealed. 3 24 EXPLANATION 3 25 This bill amends Code section 553.12 to permit indirect 3 26 purchasers to recover and all purchasers to recover three 3 27 times the actual damages and the cost of suit, including, but 3 28 not limited to, reasonable attorney fees for overcharges 3 29 passed along to them by intermediate buyers of products or 3 30 services. Current law allows only those who purchase directly 3 31 from an alleged antitrust violator to recover damages. 3 32 The bill also allows the attorney general to bring a civil 3 33 action, on behalf of persons residing in the state, for injury 3 34 to property directly or indirectly sustained by those persons 3 35 because of any violation of the Iowa competition law. 4 1 The bill further repeals Code section 553.15, which 4 2 requires plaintiffs to choose between pursuing civil or 4 3 criminal remedies. 4 4 LSB 1242DP 79 4 5 rh/gg/8
Text: HSB00092 Text: HSB00094 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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