Source: News & Observer
Attorney General Josh Stein announced that the state is accusing a New Jersey-based company of price gouging. Allegedly, the Stephen Gould Corp. attempted to sell N95 masks and other PPE at 15 times their market price to hospitals, the Red Cross and a state agency as the coronavirus pandemic ramped up in March, the News & Observer reports.
AG Stein says the company sought to sell the masks for as much as 15 times their market price, “more than twice as much as Gould had agreed to pay for them,” the News & Observer reports. The company allegedly said their markup was 3% when it was more than 100%.
“At the height of the pandemic, officials in government, health care systems, and charitable organizations were trying to protect their health care workers so they could safely care for people in an environment that was extremely dangerous and potentially deadly,” Stein stated. “At the same time, we allege, this company sought to exploit the taxpayer and health care systems for huge profits. This is unconscionable and illegal — and my office will see them in court.”
North Carolina has laws on the books about price gouging, which prohibit selling or attempting to sell at “unreasonably excessive” prices during states of emergency, the News & Observer reports.