STATEMENT OF FACTS

a) Discovery of Frinkonium

In 2055, a new alternative for Lithium was discovered, Frinkonium could be used for electric
vehicle batteries. Government alone has the exclusive mining and extraction control rights
over the metal. It must be processed immediately and cannot be kept in its ore for long
periods of time. Its price is dependent many variables like quality and fitness for use.
Lithium put strain on the environment and the government levied taxes for the use of same.
Thus, EV manufactures are the largest bidders for Frinkonium. The bidding process is tricky
as hundred variables are to be calculated to arrive at the price on a real time basis.

b) Announcement of extraction

In September 2055, the government announced a bid for the first lot of extracted Frinkonium
weighing 12,000 metric tonnes. The bid was a real time virtual bid and the bidders has only 2
hours to determine the price of the bid depending on factors that could be discovered only
after extraction.

c) Invention of Bid AI

Aperture announced a new algorithm called ‘Bid AI’ to help bidders calculate the accurate
real time price based on its proprietary technology. The software was announced three days
prior to the bid. The licences for Bid AI were granted to top 8 manufacturers: i. FMI, ii.
Americar, iii. Brookwood, iv. Bolger, v. Battenberger, vi. Cromwell, vii. Dillon, viii.
Maxwell.

d) Meeting at the convention

The night before the meeting the government hosted a party to celebrate the success of
extraction of Frinkonium. The CEOs of the five companies [Maxwell, Cromwell, Dillon,
Brookwood and Americar] that got the license of Bid AI, had a discussion on the quantity of
the Frinkonium that they aimed to bid for the auction. The disclosed quantities were
overstated with the intention to mislead each other. This discussion was overheard Austin
Powers and he followed the virtual bid next day via an illegal stream.

e) Bidding process

During the auction, representatives submitted bids for their desired quantities of Frinkonium.
Only companies with Bid.AI licenses could submit bids within the two-hour timeline. Details
of the bids submitted by the eight EV companies were recorded, with the highest bidders
being FMI, Brookwood, Cromwell, Dillon, and Maxwell.

f) Filing of information

It was noted by Austin that the five companies that discussed the quantities of their bid won
the bid. There was also a similarity in the price that was bid by them. Austin with
consultation from his law professor, filed an information with the Baraq Competition
Authority reporting that the EV companies had colluded among each other.