Spectrum Stores, Inc., a gasoline retailer, filed a suit against Citgo Petroleum Corp. in a U.S. court.

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Spectrum Stores, Inc., a gasoline retailer, filed a suit against Citgo Petroleum Corp. in a U.S. court. Spectrum alleged that Citgo conspired with other oil production companies to fix the prices of petroleum products sold in the United States, primarily by limiting the production of crude oil. The government of Venezuela owns Citgo, and a government controls the resources within its territory. Does the act of state doctrine prevent a U.S. court from considering Spectrum’s claim? Explain. [Spectrum Stores, Inc. v. Citgo Petroleum Corp., 632 F.3d 938 (5th Cir. 2011)]

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Business Law Text and Exercises

ISBN: 978-1305509603

8th edition

Authors: Roger LeRoy Miller, William E. Hollowell

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