A PYMNTS Company

EU: High court wants Swiss elevator co to lose appeal of $187.5M fine

By  |  April 18, 2013

Swiss freight manufacturing company Schindler Holding AG should lose its appeal of a $187.5 million fine issued for partaking in a cartel with rivals, according to Advocate General Juliane Kokott of the EU Court of Justice. While the Court often follows Advocate General opinions, they are not binding. The fines were issued in 2007 to five companies for partaking in an elevator and escalator cartel formed to collude and share market sensitive information; those fined included ThyssenKrupp AG, which one an initial appeal of its fine.

Full Content: Bloomberg

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