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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.

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

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