The United Parcel Service has been hit with a consumer class action antitrust suit that accuses the shipping giant of abusing its monopoly power by charging inflated prices for insurance on packages up to 150 pounds.
The suit, filed in U.S. District Court in Philadelphia, alleges that UPS entered into a “sham arrangement” with the National Union Fire Insurance Co. “to enable UPS to charge shippers unconscionable prices for excess value insurance which were nearly three times the competitive market rate.”
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