La Habra Firm, 2 Executives Are Indicted
Master-Halco Inc. in La Habra and two of its executives were indicted by a federal grand jury in Denver on Monday for allegedly conspiring to fix prices in the chain-link fence industry.
President Richard L. Tannehill and marketing vice president Barry J. Marrs were indicted for allegedly engaging in a price-fixing conspiracy with other companies in 29 states, including Colorado. The indictment does not cover any sales in California.
If convicted, each man faces up to three years in jail and at least $250,000 in fines. Master-Halco would be subject to at least $1 million in fines.
“Price-fixing is when two or more companies or individuals agree on the prices they will charge their customers,” said Joseph H. Widmar, director of operations in the anti-trust division of the Justice Department.
The company issued a statement Tuesday saying it was innocent of the charges.
“Master-Halco regrets this action on the part of the Justice Department and we firmly believe that it will be determined to be wholly unfounded,” the company said.
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