A PYMNTS Company

EU: Top court upholds $543M fine for Siemens, Toshiba, Mitsubishi

By  |  December 19, 2013

The European Court of Justice has upheld a fine totaling $542.6 million against Siemens, Toshiba and Mitsubishi Electric, dashing the companies’ efforts to appeal the sanction issued for involvement in electrical equipment price-fixing.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The European Commission fined the companies, and several others, in January 2007 for price-fixing electrical equipment pieces. Siemens was slammed with the highest fine of all 10 companies.

    According to reports, the EU’s lower court initially tossed Toshiba and Mitsubishi’s fines in 2011; but the European Commission re-imposed new fines as their appeal was pending.

    Full Content: Bloomberg

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