California Attorney General Rob Bonta and Senator Melissa Hurtado (D-Bakersfield) today issued the following statements in response to Governor Gavin Newsom signing into law Senate Bill 763 (SB 763), legislation seeking to more effectively deter corporations from restraining trade, fixing prices, and reducing competition — actions that can raise prices and harm workers, businesses, and consumers.

“This week, California took action and increased penalties for wealthy corporations looking to illegally profit at the expense of workers, consumers, and honest businesses,” said Attorney General Rob Bonta. “As the fourth largest economy in the world, and home to some of the wealthiest corporations, California knows that a fair and competitive marketplace should work to benefit everyone, not just a select few. I thank Senator Hurtado for authoring this law to help ensure we have the appropriate tools to keep and protect California’s vibrant economy — for everyone.”