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.
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.
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.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI