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
Google’s Bid to End EU Antitrust Case with AdX Sale Rejected by Publishers
Sep 18, 2024 by
CPI
Google Challenges £7 Billion UK Lawsuit, Seeks Case Dismissal Over Alleged Market Abuse
Sep 18, 2024 by
CPI
GameStop CEO Ryan Cohen Fined Nearly $1M for Antitrust Violation in Wells Fargo Deal
Sep 18, 2024 by
CPI
French Regulator Approves FDJ’s Kindred €2.45B Acquisition with Conditions
Sep 18, 2024 by
CPI
UK Competition Authority Targets Greenwashing with New Fashion Compliance Rules
Sep 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández