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Wednesday, July 6, 2022
HomeNewsArchivesV.I. TO GET $14,500 IN SHOE PRICING SETTLEMENT

V.I. TO GET $14,500 IN SHOE PRICING SETTLEMENT

Because a New York shoe manufacturer knowingly put an illegal foot forward, the territory will get $14,500.
According to a press release from V.I. Attorney General Iver Stridiron, the Virgin Islands will received the funds from a $34 million national settlement by the shoe maker Nine West Group with 56 attorneys general. The settlement came about in the U.S. District Court of New York after Nine West was accused of a wide-ranging price-fixing scheme.
It is alleged that Nine West Group entered into illegal agreements with shoe retailers to fix the price of women’s shoes over a span of 10 years starting in 1988. According to Stridiron, various Nine West Group divisions, including Easy Spirit, Enzo, Angiolini and Nine West, ordered retailers not to discount certain shoes.
Nine West Group was accused of telling retailers that shoes couldn’t be discounted outside of certain time periods dictated by the manufacturer. In order to enforce what federal prosecutors called "illegal pricing policies," Nine West Group gave discounts to cooperating retailers and withheld discounts or threatened to cancel or refuse to take orders from companies that wouldn’t cooperate.
As a result of the alleged illegal pricing agreements, prosecutors argued, consumers were denied an open, competitive market for certain Nine West Group shoes, and therefore paid higher prices.
Under the terms of the settlement, Nine West Group did not admit any liability or wrongdoing.
According to Stridiron, also under terms of the settlement, the Virgin Islands will use its share of the money for women’s health, educational, vocational and safety programs.

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Because a New York shoe manufacturer knowingly put an illegal foot forward, the territory will get $14,500.
According to a press release from V.I. Attorney General Iver Stridiron, the Virgin Islands will received the funds from a $34 million national settlement by the shoe maker Nine West Group with 56 attorneys general. The settlement came about in the U.S. District Court of New York after Nine West was accused of a wide-ranging price-fixing scheme.
It is alleged that Nine West Group entered into illegal agreements with shoe retailers to fix the price of women’s shoes over a span of 10 years starting in 1988. According to Stridiron, various Nine West Group divisions, including Easy Spirit, Enzo, Angiolini and Nine West, ordered retailers not to discount certain shoes.
Nine West Group was accused of telling retailers that shoes couldn’t be discounted outside of certain time periods dictated by the manufacturer. In order to enforce what federal prosecutors called "illegal pricing policies," Nine West Group gave discounts to cooperating retailers and withheld discounts or threatened to cancel or refuse to take orders from companies that wouldn’t cooperate.
As a result of the alleged illegal pricing agreements, prosecutors argued, consumers were denied an open, competitive market for certain Nine West Group shoes, and therefore paid higher prices.
Under the terms of the settlement, Nine West Group did not admit any liability or wrongdoing.
According to Stridiron, also under terms of the settlement, the Virgin Islands will use its share of the money for women’s health, educational, vocational and safety programs.