PepsiCo and Walmart face class-action lawsuit for alleged price manipulation.

Pepsi and Walmart faced a new class action lawsuit brought by consumers in a federal court in New York, accusing both parties of colluding to implement a price-fixing scheme for Pepsi soft drinks in retail channels across the United States for a decade. The proposed class action lawsuit submitted this past Monday alleges that the two companies reached an agreement to provide Walmart with discounted wholesale prices for Pepsi products, while forcing other retailers to pay inflated prices, which may violate antitrust laws. The plaintiffs claim that this agreement eliminated price competition, damaging consumer interests by raising prices. The lawsuit aims to represent millions of Pepsi consumers and seeks class action certification. The lawsuit documents indicate that Pepsi and Walmart achieved mutual profit growth by eliminating price competition and coordinating pricing. Walmart, in a statement, stated that they are aware of the lawsuit and reiterated the company's commitment to advocating for customer rights by offering affordable products and everyday low prices. Pepsi has not yet responded to the matter.