A PYMNTS Company

EU: Top court aide has bad news for price-fixers appealing fines

By  |  September 19, 2013

An aide to the EU Court of Justice told the Court Thursday that two companies seeking to have their fines reduced for fixing prices of electrical equipment should not have their appeals granted.

    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.

    The opinion, penned by Advocate General Paolo Mengozzi, suggested companies Areva and Alstom should lose their appeals; both won earlier appeals in 2011 to have fines reduced to $65.4 million.

    The two companies, along with eight others, were fined in January 2007 for price-fixing and manipulating the market for gas-insulated switchgear, which controls energy flow, say reports.

    Representatives for the companies did not comment on the matter.

    The EU Court of Justice is simultaneously reviewing a fine appeal from Siemens, based in Germany, which was also found to have participated in the cartel. Siemens was fined the most out of all companies.

    Full Content: Bloomberg

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