A PYMNTS Company

EU: Court upholds fine imposed on Toshiba cartel activity

By  |  July 6, 2017

The EU’s top court dismissed an appeal by the Japanese electronics giant Toshiba, upholding a fine of more than EU 61 million (US $70M) imposed by the European Commission for participating in a cartel, according to a ruling issued on Thursday.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    With the ruling, the fine became final for Toshiba after years of appeals against a 2007 decision by the EU to fine a total of 20 companies for colluding over prices on gas-insulated switchgear, heavy electrical equipment used to control energy flows in electricity grids.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    At the time, the overall fine of EUR750.7 million (US $810m)was the second-highest penalty ever imposed by the EU’s competition watchdog.

    After an appeal, a lower EU court scrapped the fines for Mitsubishi and Toshiba in 2011, as they had been calculated incorrectly. The court did confirm that the Japanese companies had participated in the cartel.

    Full Content:

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.