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Last week, as severe weather hit the country, price gouging laws were triggered ranging as far as California to Kentucky. And as we’ve previously reported, complying with the varied state price gouging laws can be tricky, especially where they use undefined terms like “excessive” or “exorbitant” to define price gouging. Last week the New York Attorney General announced proposed rules designed strengthen enforcement of New York’s price gouging law, which was last updated in 2020 to grant the Office of the Attorney General (or “OAG”) rulemaking authority. The rules would provide some needed clarity to the existing law, but would also impose new restrictions.
The OAG noted three important considerations that they factored in when crafting the rules:
Here are some of the key proposals:
Companies who are interested in impacting how the rules develop have 60 days to submit comments.
For more information on state price gouging laws, click here.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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