The EU’s highest court granted a reduction in fines for Guardian Industries Corp, originally penalized by the European Commission for its alleged participation in a glass cartel.
According to reports, the EU Court of Justice criticized the Commission’s method for calculating the fines of nearly $606 million sanctioned against Guardian, based in the US, and three of its competitors. The companies were found in 2007 to have manipulated the flat glass market by forming a cartel.
But the Court of Justice ruled that the Commission did not accurately consider the structure of each company when it calculated the fines. “Excluding a company’s internal sales would effectively favor vertically integrated companies by reducing their relative weight in the infringement to the detriment of other companies” like Guardian,” the judges said.
As such, the Court reduced Guardian’s fines by 30 percent to $129 million, reports say.
Guardian had previously lost its appeal of the fine in 2012.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI