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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10600
Experience:  30 years of corporate, litigation and international law
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Is it illegal public traded company have a bid process

Customer Question

Is it illegal for a public traded company have a bid process for a project and share returned bid results and design to a preferred contractor so they can turn in a lower bid and win the project?
Submitted: 1 year ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 1 year ago.

Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

Unfortunately there is no law governing how a private company, even a publicly traded one conducts its own bidding process. Where bidders that are supposed to be competitors collude to fix prices that can be subject to suit and even criminal prosecution. However, where a private company takes the action you describe for its own benefit, there is not law governing that type of activity. I know this is not what you wanted to hear but that is the law.

If I have answered all your questions, please positively rate my answer as that is how I receive credit. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.

Expert:  Richard - Bizlaw replied 1 year ago.

I sent you an answer a couple of days ago and have not had a response. If you have additional questions, please let me know. If I have answered your question, please highly rate my answer as that is how I get credit.