The Supreme Court on Thursday overturned a 1911 precedent -- known by law students everywhere as the Dr. Miles rule -- under which minimum retail prices established by manufacturers were deemed to be a per se violation of the Sherman Antitrust Act. Citing modern-day market realities and economic theory, Justice Anthony Kennedy wrote for the 5-4 majority that the per se rule was no longer valid. Instead, he said, "Vertical price restraints are to be judged according to a rule of reason."
June 28, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Dr. Miles is dead.
The Supreme Court on Thursday overturned a 1911 precedent — known by law students everywhere as the Dr. Miles rule — under which minimum retail prices established by manufacturers were deemed to be an automatic or per se violation of the Sherman Antitrust Act.
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