FTC set to sue Deere over tools restore practices, Bloomberg Information says

(Reuters) – The U.S. Federal Commerce Fee has ready a lawsuit in opposition to Deere & Co (NYSE:DE) alleging the corporate’s agricultural tools restore practices violate competitors legal guidelines, Bloomberg Information reported on Tuesday, citing individuals aware of the matter.

The report additionally stated the FTC was ready to file the case as quickly as this week, over considerations that the farm tools maker had withheld key info and diagnostic instruments from farmers and unbiased restore outlets.

The FTC’s commissioners haven’t taken a closing vote on whether or not to file a case, based on the report.

Deere and the FTC didn’t instantly reply to Reuters requests for remark.

The investigation was first approved in 2021 and made public in October by a submitting by knowledge analytics firm Hargrove & Associates Inc, which sought to quash an FTC subpoena searching for market knowledge submitted to it by members of the Affiliation of Gear Producers.

On the time, a Deere spokesperson stated the corporate was cooperating with the FTC.

Hargrove’s submitting stated the FTC was probing whether or not Deere violated the Federal Commerce Act’s part 5, which prohibits unfair or misleading practices affecting commerce.

The investigation seemed into restrictions positioned on prospects’ “proper to restore” the {hardware} or software program they’ve bought.

Deere additionally faces lawsuits from farmers on the identical difficulty.

In June, Harley-Davidson (NYSE:HOG) persuaded a decide to dismiss a proposed class motion claiming the corporate restricted prospects’ “proper to restore” whereas Tesla (NASDAQ:TSLA) beat an analogous lawsuit in November 2023 alleging that the automaker monopolizes repairs.