South Korean firm LG and Taiwan-based Innolux scored major wins at the EU General Court Thursday as fines issued to the firms for their participation in an LCD screen price-fixing cartel were slashed by a combined $23.2 million.
Reports say the EU General Court found that the European Commission made a procedural error in calculating LG’s fine, and that Innolux had made its own errors when providing financial data to the Commission.
The EU regulator issued fines to the companies, and three others, in 2010 for fixing LCD screen prices between 2001 and 2006; Samsung was also found to have taken part in the cartel but was not fined under the EU’s leniency program.
The EU General Court’s ruling can be appealed, say reports.
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
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 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