51°
New York Attorney General Letitia James announced on Monday, Dec. 18, that her office had secured $675,000 worth of baby formula from Marine Park Distribution Inc. and its affiliate, Formula Depot Inc., following an investigation into price gouging during the nationwide formula shortage in 2022.
The companies allegedly raised formula prices by more than 60 percent in some cases, with costs doubling for certain products. One consumer reported being charged $245 for a case of formula that previously cost $190.
“Parents should never have to worry about unfair price spikes putting their children’s next meal at risk,” said James. “My office will be delivering thousands of cans of baby formula to support New Yorkers in need.”
Under the settlement, Marine Park and Formula Dept must provide $675,000 worth of baby formula that will be donated to New Yorkers in need by November 2025.
The companies are barred from future price gouging and have paid a $75,000 penalty to the state.
The 2022 formula shortage, caused in part by a major manufacturing plant closure, left many families struggling to find and afford food for their infants. New York law prohibits vendors from dramatically increasing prices on essential goods during market disruptions.
Click here to follow Daily Voice Eastchester and receive free news updates.
